Here is a cool video about leveraging nofollow to your benefit. In short, nofollow pages like about us, sitemap, privacy policy, etc (pages that don’t generate money) and keep money generating pages followed. This will increase PageRank on those money generating pages. Great idea, but I’m not sure how much that is going to effect search engine rankings - if at all. However, I could see this being beneficial to sites that make their income from selling advertisements and text links.