That is a question that was sent in to me recently, and a very good question if I may say so myself. The answer if very simple…

Yes you should also pursue nofollow links as well. Now as far as search engines nofollow links are worthless. However if you are using Google Analytics like you should be, you would know that nofollow links can generate a lot of traffic. I have noticed in many cases that I receive more traffic from other sources than I do from search engines.

Please keep in mind that although search engine traffic is great, traffic from other sources are also good and in many cases better.

Since we are on the subject of links (how did you like that lead up to my plug???) I just recently posted and article on link building strategies that you may be interested in, just click on the link and check it.