Internal Linking: Location & Number of links on the page

[Makaveli2007]

I'd like to ask a question about internal linking:

I know that when getting links from other websites, a link is more powerful the less other links are on that page (because the link juice that can be passed on is divided by the number of outgoing links on that page).

Is the same thing true for internal linking? I know that by linking to your most important pages frequently you tell the search engines those are the most important. However would it also make sense to remove unnecessary links on the homepage (not having two links to the about section, etc.) to channel the link authority more efficiently to the important pages? and well to make sure in general that you don't have any unnecessary links on your most authoritative pages, so you dont waste link authority?

How about the location of a link on the page? I've heard that a link is considered more important if it's in a spot on the page where everybody will see it right away (but not so important if it's in the footer), because SEs emulate people, etc.. Is the same true for internal linking? Would it make sense to link to the most important pages in spots where people will see them right away, or does it not matter at all whether you have the link in the footer or in the top navigation?

How about the size of the link? Does it matter whether you're using a big fat link or one in a tiny font-size that virtually nobody can see?

thanks!

[tangor]

Links should be just that... a link to content appropriate. In general ONE link to ONE content makes sense, two links to ABOUT, for example, does not. Link as needed to expand the site/content. Just makes sense for the users and, I suspect, for the robots, too.

[Makaveli2007]

I'm trying to help a friend with his site and he has a link to the about section in his main navigation and at the end of the written content of the homepage (where he explains what his site is about, etc.). Actually, I think it makes sense in this case. But I'm wondering if removing one of those links would help other pages rank better in the long run..in that case it'd be a balancing act as often in SEO, but I'd only consider removing that link, if it'd cause a bit more of the link juice to be passed on to the important pages...

I'm really interested in how internal linking works, though and if the factors mentioned above play a role or not really.