Senior WebmasterWorld member, CainIV, has been running an experiment for just about two months now. The experiment is to test to see how changing your navigation links from "home," to a keyword, to another keyword, can impact your rankings.
Yes, this experiment is an internal linking strategy test.
The WebmasterWorld thread is here and it started by on October 1st. It is now December 1st, and CainIV is sharing some results. He said:
I have found that if a website is launched with those footer to home keyword links, then it is almost as if Google ignores those. However, if they are added or removed as the website begins to rank, in general the rankings go south.
Be careful when adding or removing those footer links!:)
It is important to note that these link changes are all pointing to the home page.
CainIV seems like he will be sharing more of this experiment, so check out the thread.
Forum discussion at WebmasterWorld.