On the same topic Google's Matt Cutts had earlier said:

If you buy typos, I'd 301 them to your main site. Even things that you win in UDRP arbitration can be 301'ed. For example, if someone bought porngoogle.com and Google won it in UDRP, it would make sense to 301 it to your main domain.

What I *wouldn't* recommend is try to register unrelated expired domains in an attempt to get those pre-existing links to count toward your domain. I would also avoid registering-and-301'ing typos of competitors' domains or other completely unrelated domains.

After a thorough analysis of all these comments and scenarios, it is still not clear about the exact Google's methodology to handle expired domains.

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