Yes, as long as your backlink on quality site, it will generate traffic to you. Also, nofollow are still helping you in serp on search engine other than google
Many SEO people say you should have a mix of dofollow and nofollow links. Think about it, most successful sites would naturally have a mix of dofollow and nofollow links, right? And as mentioned, from relevant sites you might get relevant traffic to your site which always is good.
Yes, it is important to get all types of links. Everything else equal I would take a do follow over a no follow though.
It is useful but it also depends on the PR of those backlinks. Having a zillion of PR0 can be bad for your ranking on SE and with the recent change of Panda Algorithm, you will get slapped. So try to combine some juicy PR4-9 with PR0 and do not forget to drop some .edu and .gov in it.. Comment on relevant websites if you want targetted traffic from your relevant keywords. Hope that helped
actually before i have the same question about nofollow links, now i saw all of your profeesional ideas here then i realised nofollow links are also significant to my site as well as dofollow ones, thanks for sharing thoughts here!
No-Follow links are useful for some specific purposes, however won't give you Page Rank. To make sure that the link structure of your site looks natural it cannot consist only out of dofollow links. Search engines seem to follow nofollow links. These links are most probably you to determine trust and relevance.
Although a small but a lot of homework, then it would be better SERP positions than high PageRank but slightly.
yes they can help and draw some traffic. Especially if you get some from lets say facebook, myspace, twitter ect.