plasma - 3:59 pm on Oct 6, 2003 (gmt 0)

If a link is in a <noscript> is it counted as an inbound link? If so, is it weighed any less than a normal link?

It is counted as an ordinary link.

A competitor uses this (successfully) to spam his site to #1.
AFAI can see he has noscript sections on all pages of all his customers.
In these sections he spams his own address as well as to all his other customers.

Obviously this is only there for google. I reported it as spam, but they don't care.

To answer your unasked question:

Yes, you can use it to spam.
No, you won't be penalized.