Backlinks and their extended value

[TexasJeff]

I have been spending the majority of my time the past while breaking down how much value searche engines place on certain aspects of a webpage.

My research has been relatively in depth up to this point focusing mostly on the analysis of tags, content, placement, relevance, positioning, inbound and outbound links.

In dealing with root web pages such as www.webproworld.com I have had some success in determining values behind these anomolies, however, my research comes to a screaming halt when I try and figure out internal pages that have little if any IBL's.

My theory is that some of the value of an IBL on one page is passed on towards the extended pages based on the relvency of the IBL in comparisson to the content on the connecting pages.

So in other words, if the root page has 10 IBL's and the ajoining page has content relevant to the anchor text of the IBL then a percentage of that is passed on to the ajoining page. The credit passed along is marginal, but it would explain why some pages with no IBL's that have home pages with thousands can have good SERP results against pages that obviously have more IBL's and have been optimized half decently as well.

Anyone have any theories as to how and if off page IBL's pass their value along?