I did some minor changes to the site and majority of the outgoing links are nofollow now. I was contemplating on this move for a long long time and I believe having a nofollow site definitely has its perks.
I don’t think that the nofollow tags would have immediate effect on Google SEO, probably I’ll see results in 1 or 2 months time?
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I do also think that having a website with no follow links are a good idea. It is great for people who post, "good ugg boots..", blah, blah, blah. It is nice that this comment will have no bearing on the pagerank of that website. I hope to have in the future no follows on my site, it is so very new though. Nice site, look foward to reading more from you!
Mike R.