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If all 301s have been removed then this is how I would see the end result: examplesiteA.com is a brand new site sitting on an old domain. examplesiteA has many links to it whereby users are expected to see the pages which were there but are not moved to another site. The biggest issue is a percentage of the linking sites may realize the change and break their links. If the links are maintained, then I don't see any reason for dilution or devaluation. examplesiteB.com is the old site from the "A" location. When the site moved, the 301s were in place. Assuming Google crawled every page of the old "A" site and found all the 301'd pages, then they are aware of the moved pages and have updated their index. The challenges is, this move clearly kicked up a lot of dust. How long will it take Google to fully index both sites? Until that happens the rankings may bounce. There is a SEO theory that links increase in value with age. I disbelieve that theory; therefore, I don't believe you would experience any link dilution. The only issue would occur if a user expecting to find SiteB at the end of a link now finds SiteA, and therefore removes the link due to not being satisfied with the changed page.