Google has a bunch of information that’s not readily accessible unless you know about it or are looking really hard. There is a bunch of information specifically target at webmasters with all kinds of tips and keys to high ranking on google, along with what not to do.
http://www.google.com/about.html
One of the things I learned was that google says that if you have more than 100 links on a page, you should break them up. I guess that means that google will follow approximately 100 links on a page. Question answered.