I have done this before, and am confident in the process, save for, I can't remember whether or not it goes into my Mt Gox account as USD or is automatically converted to BTC. The last time I did this, it was six or so weeks ago, when the price was nowhere near as volatile. I want to throw USD into my Mt Gox account, via zipzap, and then move the USD to either bitstamp, or BTC-e, to buy cheaper BTC than gox has to offer.

When I use moneygram through zipzap to fund mtgox, does it appear in my account as USD? And furthermore, can the above be done?