Is there any penalty for having too many links in my blog main page, posts and comments? Im using blogger.
Someone should be able to give you a definite answer but I believe that if you have too many normal links going outbound you can loose 'link juice' and that by making them nofollow you can prevent this. Waiting for someone to clarify that though.
Using nofollow to prevent the outflow of PR from a website through outgoing links is called PageRank Sculpting. Unfortunately, it is no longer effective. Whenever PR hits a nofollow link, it disappears. The link target doesn't get it, but you don't keep it either.
I don't think there is any penalties except if you are spamming other websites bad, then they might shut down your blogger account.
Then the whole blog concept is doomed from PR point of view if you cant link to other blog posts and interesting pages.
The only way it is going to work is if the links are on a controlled network of blogs where the outbound links are follow and under your control. It is not easy to build one of these things, and there is much written in this forum on how to do it right. There are many good services promoted here where people use their content networks, which include blogs and other stuff to aid you in link building. It really depends on what your goals are, but for relatively modest goals, these services can be quite a bit cheaper than building your own linking pyramid/web 2.0 properties. If you are shooting for the stars, it is cheaper to build you own, although there is always a part for the services as starter, sort of like adding yeast in order to make bread.
