Yes best for SEO overall; I think though that dilution of page rank needs to be considered. If you have other sites linking to the redirected domain then there is the issue that the links won't register. If the 303redirect.com starts to become a dominant domain for back linking then the long term SEO may suffer from lost page rank opportunity. Short term gain may lead to long-term grief and, apart from 2 unique websites, I don't think there is a have-your-cake-and-eat-it-too solution.

I have a question for the pros. If the instance did occur where the redirected domain became more dominant and a decision was made to turn the domain structure around (make redirect.com the main domain and create a redirect.co.uk) how long will it take Google to figure out the change and what need to be considered to make the change most successfully.

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