I just want to touch on something Mike quoted...
Quote:
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According to our tests, there are plenty of occasions where it can be a valuable tool, if used wisely. For example, if you have an ecommerce site and the category pages contain 3 links to every single product page -- the product name as a text link, the product image thumbnail as an image link, and the words "View Product" as a text link -- you could nofollow the image and "View Product" links and funnel more PageRank through the much more contextually-relevant product-name-based text links.
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What if user behavior is a metric? What if visitors to a site follow the image link far more times than the contexual one? Could adding nofollow to the thumbnail acually cause the target page not to receive as much "benefit" as it might otherwise?
I'm certainly not questioning the results, merely asking what if?
Dave