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Everything I could find was related to Google News, but not the main index? Is it directly transferrable? Especially given it's the _oldest _content that's going to end up being paid for in my example.

Don't want to hijack this thread at all, but I was looking for something very similar and wonder if we're thinking of the same thing?

A blog wants to make it's older content only available to premium members - but still retain a snippet of that content (perhaps the first few paragraphs (the posts are quite long) as visible to search engines. Thus allowing traffic to arrive on the site from the content, but not necessarily view it.

I saw that as being against the spirit of what Google wants to do, but was hoping for a little clarity on that. I wonder if the OP was thinking of something similar?

When I prototype a website I use a lot of # href links. I would suggest a search through the source code for "a href="#"" thus removing any of these "dead" links before you go to production.

Note to self: remember to actually do this yourself.