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I don't think it holds much weight, if any, anymore.
But this question made me wan't to do a go**gle image search and see if any sites that were hotlinking to others were credited for the hotlinked image in g**gle's image search. I have not noticed any that have been and if thats the case perhaps this hotlinking could put some weight on the hotlink victim in g**gle's image search? Probably just the rum talking.
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My Please login or register to view this content. Registration is FREE is BlueHat SEO. Definetly worth a read, and will probably inspire some new project that is going to take up some of your valuable time.
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