Got a link exchange request from a site with many many exchange categories and pages.
At first look I say "nice, this site has PR6 (per the Google toolbar) and want to exchange with my PR4 site. But looking further, something smells pretty rotton. Here's why:
(1) Every links page on the site, and there are a whole lot of them, show PR6. The pages are all framed, so I guess the PR6 only applies to the frame, not to the individual pages being framed.
(2) The Google noarchive tag is seen in the metatag so I smell possible cloaking. Maybe Googlebot isn't being fed the links pages being fed to the exchange partner webmasters who think they are getting a PR6 link.
Anyone have any insight into use of frames and/or cloaking to trick link exchange partners?