Personally, I wish that Google would create guidelines for buying and selling links that would include PageRank passage. I guess I just don’t get the mentality that only links that come from people who "think something is relevant" should pass credit.
Google is trying to act like they are the New York Times, and putting
"advertising" (read paid links) in their editorial is akin to killing puppies or putting
leaches on babies. Let me tell you something, Google’s editorial
results are not the New York Times. They are the result of an algorithm
that is consistently manipulated by thousands of Webmasters with no human editor in sight. That’s ok though. There aren’t enough editors in the world to filter the amount of information Google processes in a single day, much less over a period of time.
What I would prefer Google to do is allow for the flourishment of the linke economy they have inadvertently built. Work on the semantic side of your algorithm and understand if links have a context on the site they are placed. If not, then lower the value passed on the link – don’t eliminate it, just lower it. After all, links have value. And most of all, be trasparent. Create a tool that would allow link buyer to KNOW if the link they are purchasing will pass value to their site. Google could even charge to use that tool. I know I’d pay for it.