My thoughts based on writings by Matt Cutts are that time is much better spent on other avenues of Search Engine Optimization vs using no-follow which it seems based on his comments last week at the convention does not have any real bearing on sculpting page rank. Just my 2 cents!

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John Herrigel
Green Tree Realty
207-650-5383
Southern Maine Real Estate - Portland ME Real Estate - Coastal Maine Real Estate
An Exclusive Buyers Agent for Southern Maine

I really do think that nofollow was always a waste of time, but I do like to prevent Google from indexing some of my pages that are irrelevant to my keywords by using a robots.txt file. Go to Google Webmaster tools to see what Google sees as being your main keywords. If you are a realtor, but you are being indexed for verbiage in your privacy policy, terms of use, etc., then you should add those pages to your robots.txt file.

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Aaron Charlton
Gilbert AZ Homes for Sale
The Islands - Gilbert AZ
Val Vista Lakes homes