Hi Frank,
First, let me answer your question to Alan.
The main advantage of NOINDEX, FOLLOW is that robots can still crawl these pages and pass any link juice that flows through them. So any links pointing to these pages, whether from your own site or external sources, can return back to your site through the links on these pages. Make sense?
If the search engines are excluded from crawling, then they can't discover any links on these pages that flows back to your site.
Also, it seems that you would want to keep these pages out of Google's index, as they are completely unrelated to your site (unless you wrapped them in branding and re-purposed the content as a sort of portfolio)
Sometimes you can get an over-optimization penalty for too many exact match anchor text links pointing back to your site, so watch the anchor text on the reciprocal links and try to vary them as much as possible.
