Domain name change: 301 or DNS alias?

Moving to a real domain name

[scoob]

We're moving our domain
from: widgets.somedomain.com
to: my_own_widgets.com
and we also have bought myownwidgets.com

I was originally thinking using a 301 redirect to transfer
the Google PR of the original site to the new one.

But I read some mixed reviews on that (some sites lost PR)

How about using multiple DNS entries all pointing to
the same IP address (we have a fixed IP address).

And how best to also setup myownwidgets.com also since
this one may be easier for users to type (no underscore in name).

Is Google OK with one site with multiple DNS entries
to the same IP address?

If we used that approach, would the PR of the old site
be transferred to the new one?

Please advise on the best course of action.
- Scoob

[scoob]

Also, should I use a DNS CNAME on widgets.somedomain.com (old)
and myownwidgets.com (Alternate new domain name)
and a DNS A type for the new domain name my_own_widgets.com

OR

should I just use DNS A type entries for everything
pointing to the same IP address?

- Scoob