It would probably hurt your site more since I don't think it's proper html. You have noindex in the meta robots tag but in the link I think it's just rel="nofollow". It probably wouldn't have any effect if it's not proper html
You can know by checking your backlinks and other analysis. I have noticed that Yahoo doesn't listen to the nofollow link whereas I think Google and MSN do. Yahoo also doesn't listen to the meta robots noindex as Matt Cutts pointed out.
Just because an engine does or does not show nofollow links in a backlink search doesn't mean that they are or are ignoring the nofollow tag (maybe they simply treat those links differently algorithmically).
true, but it is misleading if you put nofollow and then yahoo follows the link and includes it as a backlink or stores the cache of pages that have 'noindex' on them. some services out there like text-link-ads use the backlink count to determine the value of the site and including nofollow links could throw things off. IMO, if it says 'nofollow', why list it at all as a backlink?