Do Nofollows still work for Sculpting?

[MyNet]

Before answering this, let me explain my goals.  I know that Google made a change a couple years ago that discounts the amount of Page Rank passed to dofollow links when there is a nofollow link present on the page.

My goal is to keep the most page rank possible on my home page and pass a specified amount of Page Rank to 7 out of 10 of the pages linked to from my home page.  I realize that creating 3 of the outgoing links as no follow links is not going to increase the Page Rank being sent to the other 7 pages.

My question is will my home page be able to retain the Page Rank that would have been used by the three nofollow links or is that Page Rank value just lost when I implement a nofollow?

[EGOL]

According to the most recent word that I have read from Google, when you nofollow a link the pagerank that should have flowed into it dies.

So, if you want to preserve the pagerank of your site you should link to those three pages only where necessary and have links on those pages that will allow pagerank to flow back into other pages of your website.

Today the best way to conserve pagerank is to avoid linking to unimportant pages as much as possible - and when you link to them be sure that they link out to important pages.

[David_ODonnell]

The latest from Matt Cutts is not to use No Follow on internal links (which is how it was used for sculpting) but to only use it on external links you don't necessarily trust / want PR flowing to.

[MyNet]

Hmm, if the Page Rank dies completely why would any one use a no follow?  It seems as if everyone would never want to use a no follow again.

[EGOL]

I agree.  I don't use nofollow.

There are a few valid reasons to use it..   on paid ad links, on forums to discourage spammers, and linking to sites that you don't trust or want to support with pagerank flow.

[MyNet]

Even then though, why would you want to use a nofollow if every nofollow decreases your page rank value?  Even if you are using it in a forum context or for an ad it looks like this would still kill your Page Rank.  Would it be better to wrap the links you don't want to pass Page Rank to in an iframe or java script?