Every SEO forum and blog is in flurry mode around PageRank sculpting - using nofollow links to better optimize PageRank shifts around your sites.
SEOMoz had a an article on it today about how it can help your website out. I think they missed some important facts though:
- No follow links shouldn't be exclusively used on external content. If you have a bunch of pages that you do not want visitors to land on, such as login and other adminstrative pages, it's a great idea to nofollow them throughout your entire site so that you don't waste your internal juice these useless pages
- While large sites like Wikipedia have used sculpting to create large traps of PageRank, your site is not likely in the same place in terms of link generation. Adding nofollow links to your strategy could harm your image with other sites who may be offended by your lack of a meaningful link to them.
- While Google and Yahoo both contend that nofollow links are a-okay, over-use will probably get you into a human review. Be careful, and make sure you aren't practicing bait and switch with no-follow links and cloaking.
PageRank sculpting can be a powerful tool, if used appropriately.. just don't buy into the hype!