Google & other search engines reaction to redirecting

Google & Redirection, redirecting

[magickop]

I have a large website (call it mysite.com) that has a couple of hundred thousand links on google. I am always looking for more ways to increase the traffic to my site to increase my PPC revenues.
I stumbled across an idea, but I am not sure how google will react and don't want to upset my good standing with them.

My idea was to buy expired domains that still have traffic coming to it (call it xyz.com) and are in someway related to the contents of mysite.com and then have xyz.com redirected to mysite.com. how does google feel about redirects? will they penalize me? how about yahoo, msn, and any other search engine? Would it be better to upload an article onto xyz.com with a link to mysite.com?

I'm just not sure how to approach and what is the best way to get traffic to mysite.com using this strategy.

[Rollo]

Sounds dangerous to me.

Why not just: 1) try getting more links the old fashioned way, or 2) pay for advertising?