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Always better to focus a page on less so that you can do more. 
I would have term one and then brand signals for your title tag. I would consider this the best option and just create a couple more pages. Unless they are extremely extremely close keywords like blue widget and blue widgets.
Panda seems to have effect at the domain URL level. So as long as the sites are different, as in not the same domain, then you should be fine. Would be crazy if not due to all the shared hosting accounts.