Site 1 to Site 2

[onedodd]

** For Admin - Please delete other post that was moved to legal. It wasn't even necessary to include that in the original post as that has been settled.
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My Questions:

I have a domain called *ww.site1.com with decent search ranks.

I also have another domian called *ww.site2.com that reflects my business name better and wish to use this domain as my main and only domain from now on.

New site 2 content will be identical to old site 1, the change is strictly for the name because it is better for business from a marketing standpoint - so here are my questions.

Because site 1 has very good ranks I would like to try to keep them if possible. With that in mind what should be done or what is the best way to redirect site 1 to site 2. Or have site 1 resolve to site 2?

I currently have a 301 redirect from site 1 to site 2 right now - is that enough or should I do more?


1 - Can I point the DNS nameservers for site 1 to site 2? What will happen if I do this? Is this even possible? Even then would I have to do something in my .htaccess file to change the name of site 1 to the name of site 2?

2 - Is the 301 redirect enough? Because obvious PageRank isn't transferred and that makes me think the top rankings will go bye bye.

3 - What about something called a CNAME? I don't know this but it was suggested to me.

Thanks, Joe