Gurtie over at Gray Hat Search Engine News looks to be the first to get the scoop and report on the new Link Descriptor Tags (the "No-Follow" being the first Link Descriptor Tags).
It appears that these new tags will be used by Google, Yahoo, and Ask (MSN was having some issue at the moment).
To quote from Gray Hat News:
We understand that Websites not using the tags listed on all links will be dropped from the Google index on 1 December and will not be considered for re-instatement until January. Yahoo are rumoured to be a little more relaxed about the use of the new tags. Ask frankly couldn’t care less they’re just pleased to have their name on the press release.
forgive me for spreading this bait