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Having proper sitewide links should really increase your clickthru's and bounce, conversions, and really just increase the value of all your incoming traffic. Simplest reason for this is the traffic is just more targeted this way.
Imagine a search term like fat dicks. If only the root is listed as number one, you could have straight, gay, male OR female surfers hitting the landing pages. And having half these surfers back out when they see its not a straight site, or not a gay site, or full of black dicks, instead of white ones, etc etc.
So having sitelinks in an instance like this would allow you to target out them clicks, and have your 'gay surfers' going to the gay pages, the black dick surfers going to the black dick pages, hetero males, landing on related pages etc.
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