Hi Matt, we are currently about to upload a mayor project that includes applying no-follows to a numerous amount of links. This project was not conceived as a method of sculpting the site but because in out webmasters tools google alerted us that the site had too many links and this could affect crawling. This is mainly because we have a high listing and because we offer the users many filtering options which makes for great user experience as several surveys indicated. The idea of the no-follows was to apply them to these filtering links to tell google not to follow them. Do you think this is the way to go?. After reading your post I am affraid that we might be making a mistake.
This pagerank theme is getting understood in simplistic ways, people are still concerning about pagerank all the time (talking about SEOs). I just use common sense, if I were the designer of a search engine, besides of using the regular structure of analysis, I would use artificial intelligence to determine many factors of the analysis. I think this is not just a matter of dividing by 10, is far more complex. I might be wrong, but I believe the use of the nofollow attribute is not a final decision of the website owner any more is more like an option given to the bot, either to accept or reject the link as valid vote. Perhaps regular links are not final decision of the webmaster too. I think Google is seeing websites human would do, the pages are not analyzed like a parser will do, I believe is more like a neural network, bit more complex. I believe this change make a little difference. People should stop worrying about pagerank and start building good content, the algorithm is far more complex to determine what is next step to reach top ten at Google. However nothing is impossible.
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