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So ... what would be the expected difference between a nofollow link, and an anchor tag that you use javascript to set an href attribute for?
Both methods should prevent the link from passing anything of value. Neither by themselves will prevent a page from being indexed. I don't think either one carries a stigma, at least in the major search engines' eyes ... but human visitors who know about seo might have different opinions: "You might as well stamp them as 'SPAMMY, CRUMBY, AND NOT WORTH INDEXING' because that is what you are telling the search engines who honor REL=NOFOLLOW."
My blog's login page is there in Google's index. There's no reason for it to be there, and it's never once brought me a visitor from the serps. I'd rather have them devote whatever resources they're willing to spend on me to my real pages. I think that's Chris's point, though: Google doesn't give me 100 slots in their index and let me fill them in with whatever urls I choose. So removing one page doesn't make room for another...
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