I've just read an article about web usage that a friend kindly sent me.
Putting links 'below the fold' (ie. off the page so you have to scroll down to see it) has always worried me, based on this report it doesn't seem to have too much of an adverse effect.
"User rarely scroll horizontally (total of 0.4%), but over 23% of all links followed were "below the fold." This is surprising considering the short mean stay time on pages."
The article also mentions the 'Golden Triangle' - users tend to look at the top left of a search results page - I must have been living under a rock because I've never heard of it until now.
Yet more ammunition to support the argument that high Google listing is important. I still believe in SEO through content rather than spamdexing though.