Joshmc - 6:15 pm on Dec 19, 2011 (gmt 0)
I tend to agree with others here that i believe recip linking still works well in the beginning of a new site. This helps to get the link juice flowing to the site and helps to get links from sites that have already developed a following as well as authority. I wouldnt link with sites that provide little value but good authoritative sites are awesome. I was able to get great rankings for a new site in 3 months with good content and a lot of relevant link exchanges from higher quality sites.