But I think my better guess is the more likely: G won't run into noindexes because the techniques and processes in this patent aren't meant to scour the entire web (for the moment), but to better monetize individual large social networks with which they have contracts (hence the smile on Rupert Murdoch's face).
I think this directly addresses the points raised in this recent Barron's post, GOOG’s MySpace Problem: Serving Irrelevant Ads [blogs.barrons.com].
Now looking to the future, yeah, Google would run into a whole raft of privacy concerns if it tried to integrate data from different social networking sites. One of the biggest reasons is that it and other SEs aren't yet very good at aggregating data. We can see that when we look at some of the local search results and find three separate listing for Webwork; Webwork, Inc.; and Webwork, J -- and in most of these instances they have an actual physical address to work with. Can you imagine the confusion when they try to match the jimbeetle here with the jimbeetle there and the jimbeetle everywhere else on the basis of something as ephemeral as links -- and then get it wrong?
No, my best guess is that -- for now -- this patent simply addresses ad targeting problems within individual social networks; more specifically, how to monetize MySpace.