NoFollow stops everything. However, Google may still use the metric for link spread analysis, they have not confirmed either way.
Trust is indeed non existant, it is a term covering a wide range of trust factors, but Google has confirmed that different values other than page rank are passed via links. Whether they do this for individual factors or for a calculated trust factor based on individual factors is unknown. But everything to duplicate content to the position of the link on a page can affect the value of a link.