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At a recent conference (SES Chicago), one speaker mentioned that the order of links shown is in order of importance/value. He said it almost in passing. I never would have thought there was anything to the ordering of the links shown, so I was somewhat surprised.
Does anyone know, or have any educated guess, about whether the links shown first are more important?
Y! (like G WMT 'most highly ranked') lists a more obscure page first, which is I suppose something to do with more highly valued links to that page.
So it does appear that pages are listed in SE according to their 'importance'.