Sites that Redirect with 302 status...acceptable?

I noticed that your policy states "Do not submit any site with an address that redirects to another address."

I am using a site redirect (302 response status) for hosting purposes. For example, http://www.buydigitalmemory.com is actually redirecting (but masked) to a different domain so that I can run the site under one hosting account.

Does this mean that my site will not be acceptable?

This type of server routing of a domain name is common and generally not what that guideline applies to - unless it's a matter of creating multiple mirror sites which are not eligible for listing.

The redirect guideline is intended to address sites like cjb.net and go.to where a custom subdomain redirect to another URL. For example:

http://mywebpage.cjb.net] actually send the visitor to
http://www.mywebsite.hoting.provider.com/~me/

This also includes regular domains that use meta redirects primarily with framed cloaking.

For example: http://www.mydomain.com uses a meta redirect and opens http://www.myrealsite.com/home.html in a frame that keeps the mydomain.com in the location bar.

In these cases the target URL is the one that would be used if the site is to be listed.
Hope that helps.