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You can develop the other domain separately with unique content, or put it on hosting and redirect it using a 301 permanent redirect.
>>keyword appropriate anchor text
You might want to vary it a bit if it's all identical. With a lot of inbound links and internal linking all the same, it's real easy to fall into over-kill.
I sent an email to Google explaining the history (I also told them the forward had been removed) and asked them if there was a penalty, they responded by saying there was no penalty on my site and that I was in their index.
Shortly therafter, I found my site on the second page for many of my competitive keywords and even on the first for some of the lesser ones.
I also sent the same email to Yahoo and they responded by saying that there was an editorial judgement against my site. No specifics were given, just referred to their content guidlines.
They did thank me for the history about the url forwarding and the other corrections that had been made and said my site would be submitted for re-inclusion.
We'll see what happens.
I have to think that the problem was related to the forwarding url's.
Regardless of what happens, I am impressed by the quick response by both Google & Yahoo