In my opinion, nofollow is more powerful and more natural.
Webmasters believe they need to get only do follow links to rank. That is wrong. I have several websites that are ranking in the top 3 just from Youtube videos description backlinks alone, and they are nofollow.
Matt is telling webmasters that nofollow has no value and passes no link juice. That is a load of crap. Nofollow backlinks does pass value and count. Whether it passes link juice or not, is to be determined. If it does, it is extremely minimal.
Matt has never been truthful about seo, he's always double talking. Tells webmasters one thing, to turn around and target those same type of strategies that are considered to be "acceptable".
I personally think Google wants you to chase after do follow links, so it is easier to spot who is trying to influence the rankings. That is why I have always gone after a 75% nofollow/do follow 25% rate. It appears more natural.
To answer your question, yes, nofollow is worth the effort.
Someday, Google will make an update and that will target those do follow backlinks.