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...this announcement got Slashdot attention so things may be busy there for a while - hell, it'll be busy from here as well : )
Personally I'm not so so for this move - rather, I have reservations. All the good info sites out there (historical data, encyclopedias, dictionaries, collections, etc) are often at once the most relevent (if the info they contain is what I'm looking for) and the least updated.
But perhaps I should wait for confirmation before coming to any conclusions. It looks pretty serious for now.
So, don't rush to do all the "tricks" as "implied" by the patent. It could be a "booty trap".
Stick to the good ole white hat SEO methods for the time being.
The idea of updating your pages often for a better ranking is old news and as far as I can remember started about the time when freshbot appeared on the scene for the first time if not earlier.
It just doesn't make sense to go back and change articles on widget history just to make Google think my page is worth reading. I'm constantly added to the site as a whole but not changing individual pages. But this information implies it's done at the page level.
This may explain my slight drop in PR though. If old stagnant sites are mostly what have linked to me that might be hurting.
Note: MSN ignores the last modified date ... does not crawl differently.