What about relevance? Did you find it didn't matter?
If it mattered, did it apply to both kinds of links?
The 'links pages links' were part of a standard link exchange scheme, and (of course) were rapidly discounted, often with a bad neighborhood. But were the 'in page' links also part of a link exchange, or were they a 'one off' arrangement?
I'm still not flaming (I'm really not!), but I'm interested in how your study was set up, as I think the conclusions you've drwn are very interesting; BUT being a sad old sceptic, I'm interested in seeing if any other conlusions are equally valid.