As Chedders and KnowOneSpecial mentioned, this has changed recently.
This is a bigger deal than it is being given credit for.
The advice has always been if a nofollow link is useful go for it! They can bring traffic that is valuable too. My personal take is that they will be treated as a regular link from sites that are considered high enough authority and are trusted (perhaps only a certain distance from a trusted seed set of sites, or more likely meeting certain algorithmic conditions).
Many nofollow links will continue to have almost no SEO value, its just not guaranteed that it will have no effect.
Consider sites with a high percentage of nofollow links and they could actually see a positive or negative impact from this change.