cant answer 4 sure, but i bought a recycled domain that didnt list even if you searched directly. Within 2 days of leverging my existing high PR sites it was fully crawled and ranking well. So its certainly possible to recover.
I have also heard there is a channel to contact google over this stuff and get yourself relisted after a change of ownership.
I mean, logically, why would they want to exclude a good site becuase it used to hold something bad? OK, easier said than done, but worth a risk.
Actually, my purchase was an expired domain, so only cost me a few quid. I guess if you are spending ££s then u may wnat to be cautious. My approach has alway been to keep searching for an unregistered domain. With a few very expensive exceptions I dont think people come to URLs direct anyway. And will www.blahblahcreditcards.com really be less succesful then www.blahblahblahcreditcards.com once youve got a good seo strategy in place?
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