Quick question -

I'm interested in setting up several small sites that are very content-specific.

If I use PHP to execute a 301 redirect to a page, will the search engines pick up the domain name and retain it after the page is indexed?

For instance, if I have a domain name "www.awesomesite.com" and I execute the following code to redirect to a WordPress permalink, will the SE's still show and let people search for "www.awesomesite.com"?

Code:
<?
Header( "HTTP/1.1 301 Moved Permanently" );
Header( "Location: http://www.totallyradsite.com/blog/who-da-man/" );
?>