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annej - I do not believe Yahoo penalizes for a 301, however, they do have a problem with it. It seems they never (or are slow to) pick up the change. For example, all my pages end with a slash. Yahoo likes to remove the trailing slash. Even though I've 301'd the unslashed version to the slashed version, Slurp keeps looking for the unslashed version.
On these very same URI's I rank very well in Yahoo.