Should I bother acquiring nofollow links..? YES
So many people ask me about the concept of follow and no follow links. I got to admit it is a really confusing thing to get ones head around however when it boils down to it, google needs links and it needs direction on links and the nofollow system provides this however In recent years the distinction between the 2 has brought question over the relevancy of them since the most recent algo updates. Questions are continually bandied about the forums to the tune of "nofollow links do count" vs "don't bother with them".
SO many people get disheartened when they get a link from a site they've been trying so hard to get a back link from and it turns out to be nofollow. Its ok though because:
I'm here to tell you nofollow links do count and here's why
Lets jump into the shoes of a surly old seo campaign manager who is strictly of the belief that nofollow links are a waste of time. He identifies his link targets, goes after them and acquires an absolute shit tone of these things - all ranging from low to high quality page rank and authority - just to give it that sprinkling of organic'ness. He's wrapped in his effort and trots himself down to the pub to reward himself for his white hat successes.
Days, months & weeks tick by and he starts to wonder - why aren't these keywords shifting quicker? or why aren't we seeing some shift at all? or how come they've flattened out in rank....
I've got an idea, it's cause you've got no links that make you REALLY look organic to google - like for instance A NO FOLLOW!!!
Think about it, which SEO in there right mind these days is seriously going to actively go out and procure nofollow links, no one; which is why so many sites that have been hit by penguin and panda are left scratching their heads. There is a great post in a Moz QA forum which sums it up perfectly - if you want to seem like your links are being acquired naturally make it look that way and add a helping of nofollow links on high authority sites.
Now lets be clear of course; follow links carry significantly more power and actually do parse rank however nofollow links adds to the authenticity of this so don't feel hard done by if you get a good one.