elklabone - 5:04 pm on Mar 9, 2004 (gmt 0)

And if Google tweak the algo more towards semantics and away from PR then the value of being listed on a links page might go down further. That's not the same as saying that links.html will be penalised.

I think this would be a major mistake... yes, links can be manipulated, but "semantics" (I assume you mean on-page elements) can be much more easily manipulated. Link exchanges take a tremendous amount of time... if done correctly.

If Google were ever to turn its cannons on links pages, it wouldn't identify them by filename. Computers don't use words they use numbers.

Actually, they do penalize themeindex.html (default zeus link index page) by name. At one time, I had a page with that name, renamed it to index.php and the PR came up very quickly. No other changes were made.