Recently I have been involved in a thread on the webmasters talk forum wether outgoing links reduce a websites Page Rank. The discussion went on for ages continuously covering the same points a guy called chrishirst refused to admit he was wrong, must have been hard to admit your wrong to a seemingly newbi. His total belief that:
NO NO NO NO NO! The calculation is for incoming links to page A. the outgoing links on page A are not factored into the calculations so they cannot have even the slightest effect on the value.

