I have 2 Questions:
1) If a website has around 118 external links (17 Folow, 101 NoFollow), Is it a good option to take a link from that site?
My Opinion: It's already sending out to many endorsements, be it "Follow" or "Nofollow", it is passing a link.
2) If a website is sending out links from images, and has several External links, Is it a good option to take a link from that site?
My Opinion: Be it image, text, flash, video, presentation, doc, or whatever. It is sending out several links (like a link farm) and so the site shouldn't be targeted to earn a link