Despite the answers above, apparently it does interpret JavaScript, to an extent, according to Matt Cutts:
"For a while, we were scanning within JavaScript, and we were looking for links. Google has gotten smarter about JavaScript and can execute some JavaScript. I wouldn't say that we execute all JavaScript, so there are some conditions in which we don't execute JavaScript. Certainly there are some common, well-known JavaScript things like Google Analytics, which you wouldn't even want to execute because you wouldn't want to try to generate phantom visits from Googlebot into your Google Analytics".
(Why answer an answered question? Mostly because I just saw it because of a duplicate question posted today, and didn't see this info here.)