I personally believe that as a link ages it gathers more trust and therefore strengthens. I also believe that a fresh link doesn't generally help until a few months have passed (unless it's some high PR 7+ link). Sadly, I also believe in #2..as a link ages and as the linking page gets less views it deteriorates further strengthening #4. So....What is your viewpoint Ted? I'm interested in your thoughts because I am no expert and would love to better understand a link's value over time as well.