I think
I think all search engines prefer non framed.
Other than that I'm not really sure what you are asking.
I don't think you will be penalised, there is no reason to be i think. As long as you don't try to trick the search engines you should be ok.
Why did you buy this other domain? To get link popularity and higher pagerank? Because if you are creating another site that links to the original, I think thats what you will be doing.
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