Sounds wrong to me. Google will treat each page on geocities etc differently. There is no way google are seeing a link on a newly signed up geocities account as a genuine pr8 link. Not even close. My own tests show they give no weight at all to myspace etc - again its just spam-heaven if they did allow this. You asked for opinions on the article, and mine is that its not very accurate or useful, sorry.
I have to agree with Vic sorry, poor info and appears to be written by someone with little knowledge of SEO.
I am getting so fed up of all the SEO blogs, i mean there must be at least 10,000 of these damn things, and they just spout the same information out!
I agree with you and I do not read them....... btw netscape does not offer social bookmarking under netscape.com