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<added>But I don't think you'll get in trouble, they just may not crawl the links at the bottom</added>
what is the ideal number of links to have on your links page?
if you are trying to make your site look attractive for a link exchange i think the fewer the better, 20-30 feels good to me, remember that you can spread the links out over several pages.
I heard that you could get in trouble if you have too many.
E_M is correct there is no penalty that i know of for too many links.