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My questions are mainly circling around the redirect links typically used by such programs, and whether they are passing Pagerank at all, even without "nofollow". According to the server headers, Open Ads issues a 302 redirect, and as far as I'm aware, 302 redirects don't pass Pagerank (is that correct?). What about my site, though? Even if the Pagerank never reaches the advertiser's site, am I still sending Pagerank into nirvana, namely to the redirect URL?
Still, you might want to experiment. My prediction is that it won't make a difference for your rankings, but I can always be suprised. Google does ask us to clearly denote paid link of any kind, so just maybe...
[edited by: tedster at 7:57 pm (utc) on Dec. 28, 2007]
Google really should modify "PR" to be more meaningful. The pure statistical probability of a site being reached cannot be determined using purely random clicks, it's useless information, people rarely click on a statistics site image, but there are thousands of them. (I'm sure Google does prorate PR for the SERPS rankings, I have many low PR pages that rank #1 for their search terms.)
Unfortunately PR does impact the ranking of low traffic pages quite a bit. And Google's silly PR forces ridiculous navigational structures from webmasters wanting higher PR for whatever reason. Usually the pages with the most meaningful content are lowest in the navigation structure but they are the most important content, but most still will link to the home page. Oops digressing a bit.