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portentint - 5:27 pm on Apr 22, 2008 (gmt 0)
"Excessive" reciprocal linking will actually cause penalties. But chances are you'll get far less value from traded links than from one-way links. So frances' example is the one that makes the most sense: They saw a competitor move up because not ALL of their links were reciprocal. Best to mix it up a little, and rely on good link bait as your primary driver of authority.
Reciprocal linking is a bad technique. Sorry.