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babymaker - using those codes doesnt stop the SEs from listing your links to paysites - it just doesnt follow the links away from your site
The only thing you need for those codes to be picked up is the very first part (the actual code) and the text that you use on the page
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The only thing you need for them to be picked up (by Google - behavior depends on the engine and is easy to test) is a link that passes PageRank. Nofollow blocks PageRank and anchor text, so your ref code will never get indexed.