jaffstar - 9:52 am on Jan 7, 2005 (gmt 0)

I receive many link exchange proposals most of them of large links directories with pr 0. Should I refuse it all or is there any good in exchanging links with them?

You mention the word "exchange", These are the points to take into consideration.

1. Is it a fair exchange?, is your site PR4 and they PR0, in that case ,NO.

2. Will the site get pagerank in the future, possibly yes, in that case, it could be worth sticking around.

But my rule of thumb is not to exchange with PR0 sites.