Sgt_Kickaxe - 6:37 pm on Aug 28, 2012 (gmt 0)
If all links suddenly became nofollow, which isn't a horrible idea if you worry Google will make a mistake and slap your site with a penalty, pagerank would cease to have any relevance UNLESS Google selectively ignored nofollow.
I'm thinking they are being selective about it right now and can offer affiliate links, and their effects, as food for thought. Recently shopping sites with an affiliate program suddenly had less trouble outranking their own affiliates for the same items.
If Google is being selective about nofollow, and nofollow protects you from harm, why isn't every single outgoing link you have protected with it? What is the incentive or benefit of not using it?