A common misconception has been floating around for a few years stating that PageRank loss through a 301 redirect is higher than the loss of PageRank through a normal link. Matt Cutts has released a new video that states the loss of PageRank through a 301 redirect is the same as PageRank loss through a normal link.
This myth is now debunked because of the latest and greatest video from Matt Cutts. Check it out.
The stress and worry of using 301 redirects should no longer be an issue from additional PageRank dilution. Many SEO’s i know personally beleived this myth to be true, but thanks to Matt Cutts we can now all sleep comfortably.