Although I'm pretty sure, I still wanted to check and clarify if I'm right. 1. If I place a link on my site with a rel="nofollow", that link is absolutely"dead" for Google (PR, spiders, everything). Am I right? 2. If I do a link exchange with a site -- they place my link on their website (dofollow), and I place their link on my website (but with rel="nofollow"), is this considered as a one-way link to my website? (I don't do this, but I am curious to know) Thank you.
Yes, that is still considered as one way link as long there is no 3rd party involve. Having dofollow and nofollow links in both of your website does not matter in one way link exchange. Goodluck!
when Google sees the attribute (rel="nofollow") on hyperlinks, those links won't get any credit (Link Juice) when they rank websites in their search results. They will still crawl the link (it's not dead) No, this is NOT one-way, this is still considered a reciprocal link
It's still a reciprocal link. However, if you aren't passing PR to them then that PR goes to your other pages. Meaning it's equal to a one way link. Correct me if I'm wrong but Nofollow is primarily respected by google. So yahoo and other crawlers won't care weather or not the nofollow is there. I believe to stop other crawlers you'd have to put it in your robots.txt as well. However, this second paragraph is just what I've put together from different threads. It may not be fact... The first paragraph is 98% fact.