TheOptimizationIdiot - 8:30 am on Mar 6, 2013 (gmt 0)

Nah, it's been tested quite a few times and noindex pages pass link weight.

I have and have had 1000s of pages noindexed on a site for years (they were in for a while in between) and the rankings are actually better with the pages I don't need in the index for one reason or another noindexed.