Thanks for the comments guys - really appreciate it.
QUOTE(Michael Martinez @ Jul 6 2009, 06:21 PM)

Did you change the links or just depend on a redirect? A redirect buys you time to update your content. It should not be viewed as a full solution to any problem.
Also, there could be a completely unrelated reason for the drop in rankings.
And how did you implement the redirect? Are you just redirecting a sub-directory and expecting all child pages to redirect appropriately? There is only a limited ability to affect a sub-directory or domain.
I didn't personally implement the 301 redirects but oversaw them all - I think there is less weight placed on the page as the homepage was being returned for the keyword term - which had no mention on the term. I've looked into all the redirects and they're all setup correctly and pointing to the right pages - however this one isn't coming through. A lot of the links might not be easy to change - but in answer to your question - no I have not yet tried to change the links yet. Also - its not a subdirectory/folder - it is an individual page (also a non 'www') so there are two redirects involved.
Let me know if you need anything further.
QUOTE(Jill @ Jul 6 2009, 06:51 PM)

Are you positive it's a 301 and not a 302?
I've heard it said recently, perhaps it was SEOmoz, that they believe not all link juice is passed through 301 redirects, that perhaps as much as 10% is leaked.
No idea if that's true or not, but it actually does make a lot of sense that Google might do this.
That said, 301's need lots of time to pass their juice and you may simply need to be more patient.
Its definitely a 301 redirect, i've checked across the board. Interesting about the 10% leakage - following on from my last point, how would this work if there are a few redirects involved (no more than 5)? I do agree about being patient, although I always felt that way for external 301 redirect (from one domain to another) as opposed to internal 301 redirects. I do generally feel that the problem is from this older page not passing everything across (see next point for further explanation)
QUOTE(Randy @ Jul 6 2009, 07:15 PM)

In addition to the above, your not seeing those 301's in WMT is probably a result of the recent updates of the Google WMT UI. See
here for the official announcement from about a month ago.
WMT is apparently not showing any links that include a redirect anymore. Not the smartest move they've ever made IMHO, but then again I don't run the tool.

Hey Randy - yeah I know - I was working on it in the morning old style and then in the evening using the new setup. However, looking at another domain of mine - there are links pointing to the page - which is then redirecting to the homepage. So same situation but the URL is being returned showing links - whereas with the domain in question isn't.
Do you think it could be anything to do with the new server not being able to handle PHP? Or as it is a server side redirect - it doesn't matter?
Thanks for your help guys - really frustrating. :S