I have to manage the rationalization of a network of penalized sites. The sites are not banned but rather all have a -50 ranking penalty which was applied because they were near (but not exact) duplicates with signs they were owned by the same organization (same adsense and affiliate accounts). We plan on retaining only a single domain and either parking or redirecting the remainder. All sites, including the one we will retain currently have the penalty applied. Of the remainder, 3 or 4 have significant link equity with links from trusted, respected sites. My quandary is: should I simply abandon the link equity from the penalized domains and work on building up the one we are retaining, redirect the best 3 or 4 domains to the one we are retaining (incrementally), or rebuild the ones with good link equity as content only sites, get the penalties lifted, then redirect them. I'd appreciate any opinions on the risk/reward of redirecting the better domains to the one that will remain as the single site we run.