What do you all think of Linkslist/Directories using the Nofollow tag?

[Linkster]

The third way Ive seen recently with a few LLs is they have the robots meta set to noindex,nofollow for category pages - and some that just set the nofollow - of course no one knows the effects on a particular search engine and what they really do when running into any of these three different methods mentioned here despite what they "say" publicly