Permanent redirect reducing page rank

[Barry]

Should this permanent redirect:

RewriteEngine on
RewriteRule ^bw.shtml http://www.polisource.com/links/audio_video.shtml [R=301,L]

lower the page's rank from about 3 to 0? I intend to change the locations of about 10 pages, and it looks like I'll have to build up the page ranks all over again. A couple of pages have been redirected for months and they still have no page rank. Shouldn't Google at least compare the content before assuming it's a brand new page that deserves no page rank?

I planned to try AdSense after my renovation, but now it looks like I'll be worse off because of the lower PR, despite the better design and content.

[Mel]

Its been over three months so far that there has been no update of the Google toolbar, so its likely that your pages are receiving the benefits of the 301 redirect, but they are not yet visible.

[Barry]

Good :)