EditorialGuy - 3:38 pm on Jul 26, 2013 (gmt 0)
I asked Matt Cutts about this several years ago and he said that no-follows are not distorting the link graph.
several years ago no one cared about nofollow because Google wasn't dishing out confusing animal penalties. Talk to Matt today and I bet the distortion is a lot more murky.
Dethfire (second quote) makes a good point.
I also wonder if "distortion of the link graph" (or the lack thereof) might not vary by sector. In our own case, where the "nofollowing" site that inspired my post is a hugely influential megasite (and our #3 link source), it's hard not to think that 1,500+ nofollowed links to highly targeted pages don't represent a missed opportunity both for us and the accuracy of Google's algorithm.