301s are the most SEO-friendly way to redirect traffic, and should be used whenever you've deleted or
permanently moved a page, if you're (heaven forbid!) switching to a new domain name, or want to prevent PageRank split between the www-prefixed and non-prefixed versions of your URL.
Van Achte lists the need to temporarily move a page, send traffic to a special promotional landing page, or shorten a long, obscure URL of a home page that's been created by a content management system (CMS) as some possible reasons for using a 302 redirect instead.