We have created a website to distribute a niche product. About a year ago, another vendor decided to drop the product and did not renew their domain name. We tried to acquire the domain name, but a cyber squatter picked it up. The old domain name had a few decent back links, and there was probably some value to us with a 301, but the cyber squatter was asking $8,000 and we didn't even bother countering such an absurd figure.
The old domain continued to rank reasonably well for one or our search terms, even though it was just one page of spammy links. Well, this week it appears that Google Panda may have finally killed it off. Which brings me to a couple of questions.
1. In addition to a simple Google search, is there a way to determine if Google has killed a domain?
2. Assuming that Google has indeed killed the domain, is there any value in trying to 301 the domain should it ever be released?
Best,
Christopher