I just got a backlink from a .gov website. The page is a pr4 with only 1 other link to an outside website. However, the link is no follow. I am happy that I got the link and I don't think it can hurt me in anyway. My question is what do you think a link like that is worth? Not in dollar terms, but in SEO terms. Of course I don't expect any change in the serps from just that one link, but I would like to hear if you think it was worth it or not to get the link? The page is 100 percent relevant to my website's niche.
No Follow links won't help your page rank or search engine positioning, but if it's a popular site, they just might get you a bit of traffic.
I agree that it will not pass PR, but as far as the SERPs, do you really think no follow links have zero value? In this case, a no follow link from a .gov website, do you think it passes on a trust factor? Google does crawl no follow links.
Matt Cutts said that .gov and .edu extensions are treated exactly the same as .com what is important is the quality and the relevance of the backlink not the extension.
Nofollow links will never improve the page rank of your website. But it is government website, already linked from other websites so lots of traffic directly from search engines and from other source. Definately some traffic will come to your website from this website.
.gov isn't inherently better than any other extensions anyway, it's just that .gov sites tend to be high quality and have high PR.