User generated content NoFollow and rankings

[Globetrotter]

My whole website is stuffed with user generated content. Think “Wikipedia” –like, and “Forum”. On both sections are heavily moderated. All of the links (except affiliate links) are follow links. I believe that if I don’t vote for a link I shoudn’t be adding it to the website (or moderate it to unlink it). So this is what we do at the moment. Making all the links followed gives us some work to moderate but because we have an active community this seems to work fine for now.

The website performs “okayish” in the rankings but I wonder if I would start to no-follow the user generated links (these are pretty much all the links on my website) would give my (long tail) rankings a boost or not.

I would like to know what you would recommend and why.

[tedster]

The only way I can see that going nofollow would help is if you currently have a lot of outbound links to bad neighborhoods and are therefore penalized for spam. Since you say you are actively moderating the links, I doubt that this is the case.

[Globetrotter]

If adding no follow would not help, would removing/hiding all or some of the links (so PR could not flow to other sites) will?

Many users have a signature or a website icon which is shown next to their post.

[Simsi]

If the sigs are unmoderated, I would be inclined to run them out through a redirect.