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Weve never had a problem doing a simple 10 second direct to the new page, and just having text saying "...this page has moved to <link>blah</link> Click on the link or wait 10 secs to be redirected". (Yes I come from the stone age!)
However there are smarter solutions discussed here often by using things called "403" (?) redirects or something link that using htaccess and such. Do a search and you will find that.
Using the redirect via HTML is an ok solution if you only have a few pages. The PR (minus the dampening factor) will go to the new page. But using a 301 (permanent redirect) using htaccess would be by far the best solution.
If all .htm extensions have changed to .html then a rewite line using htaccess would be really easy, it would rewrite all .htm extensions to .html