A 301 redirect question

Is this ok to Google

[mikemcs]

I have 2 domains:
1: www.mysite1.com and
2: www.mysiteone.com

If I do a 301 redirect on the second site to the first is this ok to Google? I have many customers that use the second site but I only want to maintain the first site.

[hetzeld]

Mikemcs,

It is perfectly OK to use a 30 redirect. It is even the approach recommended by Google as GoogleGuy mentioned in one of his previous posts.

Dan

[podawg]

Is there a limit to the number of pages you can redirect with a Permanent 301?
A couple of months back I had to redo one of my sites and several hundred pages were moved.
I set up a redirect like so:
<%Response.Status = "301 Moved Permanently"
Response.addheader "Location", "http://www.newdomain.com/newurl/"
Response.End%>

The next crawl my site was a complete PR0.
The host had been down for several hours during the start of the crawl but was up for the remainder of it.

The issue has arisen once again as it's time to update another site and this one has even more links that have moved.
This is my main site, so I am reluctant to do anything that would risk it's ranking and traffic.

Do you think it was the fact the Host was down for a few hours that affected the site, the number of pages that were redirected or was it the 301 redirect being done in this format that caused this?
Thanks much.