Has anyone try this? First register a valid PR2 domain (dropped) lets call this domain1.com and redirect it to another PR2 domain called domain2.com. Yes this is pointless I know. Do the reverse. redirect domain2.com to domain1.com. So basically it goes in a loop . What will happen to the end PR after an update for both domains. Has anyone tested this and noticed the outcome?
My guess would be that they would both be PR0; the Googlebot wouldn't be fooled. I'm sure it is programmed to not be caught in an infinite loop. I've accidentally done this on a page and Firefox detects it and stops with an error message that you've encountered an infinite loop.