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To clarify: you probably won't get penalized for duplicate content if you don't use a 301, but it's still in your best interest. A lot of sites are mirrored, and a lot of people have no idea about http status codes. I've worked for an e-commerce company with an obscene budget for in-house software development that refused to do anything but 302, or temporary, redirection. When I set up my web site I picked a bad domain name, then added a second; it was a good six months or so before I figured out how and why to set up redirects. Consolidating everything seems to have helped me, but I think enough small web sites are in your shoes that it fits the 'natural' pattern and doesn't bring punishment from above.
Google will eventually figure out that the two sites are duplicates, and start only serving one in their search results. It may or may not be the one you'd like. And if you're concerned with link counting, running multiple domains means your total collection of incoming links is divided up.
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