301 redirects for inbound affiliate links

How to get an organic boost from our affiliate program

[rrussell]

I'm working with a site that has a substantial affiliate program. They are currently having their affiliates link to a url like:

www.site.com/affid

which then gives a 301 redirect to a single landing page. I have two questions about this...

1. Does google transfer the link popularity through a 301 to the ultimate landing page?

2. Is there a chance of getting penalized for duplicate content due to the hundreds of affiliate landing urls?

Thanks!