CainIV - 8:55 pm on Jul 8, 2011 (gmt 0)
To be honest I think the lines are being blurred daily in this regard. I would agree that "for the most part" nofollow links absorb juice and those links do not pass page rank.
I don't believe this is always the case, and believe that depending on the authority of the source, those outbound nofollow links might actually increase your hub score, or weight of the link to you, from an article or blog post.
It is really starting to become more site dependent.