Above the fold – beware of false bottoms
Prevailing arguments in this era of almost infinite screen resolutions is that the fold no longer exists so don’t worry about it because people now have a greater tendency to scroll. Check on the following articles for an active discussion on the topic.
My take on the issue is that the key navigation and links to important content should be near the top of the page. Most importantly beware of false bottoms and make sure you give users a reason to scroll. A false bottom gives the appearance that the page has ended at the point where a traditional fold occurs.
As Paul Boag notes in a clip linked below, content that will draw users in should be above the fold even though it may not be most important content.