How do search engines view a 301 domain redirect?

Would it be like an anchor text keyword backlink?

[MrSavage]

I'm always so curious! I have a real trust and appreciation for you folks here, plus I'm a new keener!

Here's what I'm wondering, and if you've had experiences with this.

Example: brand new domain "redshoes.net" which you just bought, is used for a 301 to your main site "redshoes.com". I'm sure this is just guessing, but will the search engines say, wow, here is anchor text "red shoes" domain being redirected or added to "redshoes.com" domain.

Obviously type in traffic is not exactly profitable (adsense for domains has proven this to me) and I'm wondering how valuable to search engines a domain redirect is. Even though in the example "redshoes.net" has no page rank, backlinks, it does have the keywords "red shoes". It would be great to hear someone say here that yes it's a super powered anchor text backlink, except better than a backlink. A domain, with the same keyword phrase, is like a double down (and winning) in blackjack! Would this just be wishful thinking on my part?

I guess boiling it down, does a domain name by itself (no pr, backlinks) that is 301 redirected, add value to your original domain if it is a duplicate keyword phrase?

edit: I'm thinking nobody would ever imagine it providing anything more than type in traffic value but what the heck, it's worth asking.

[ogletree]

From my experience there is no keyword value in the domain name. Google just puts it in a db with a pointer to your site. If there are no links then there is nothing to pass to the other domain. Keywords in domains have no direct affect on SEO. There is indirect affect in that people will use the keywords in the domain to link to you often times.