Question on link from another site

Is more than one link bad?

[Dave_Hawley]

Hi All

I have teamed up with another site very similar in nature to mine. According to the google toolbar PR his site is PR7 (if we can rely on that). On his links page he has placed a very prominent link to my site and I have same to his on my links page

MY Question:
On this same page he has another 2 links to my site, under sub-categories. Is this frowned upon by Google? I'm thinking it is and should go with one link only, am I correct?

Cheers
Dave