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I run a site that is in vaious top 10 rankings for about 30 keywords. I have a PR of 5 on my index page and a PR 4 on my links page. I get requests from sites that offer good noncompetitive content for a reciprical link, but it is a fairly new site that has not established a PR rank (shows as 0) yet. Will setting up a reciprical link with this site cause me to lose PR?
I am glad I stumbled across this forum as I have been looking for a forum like this for a while. Guess I am little slow in finding things. :)
The PR0 of the site that you are thinking of doing the recip link with, because it's new, might not actually be PR0. The Page Rank that shows in the toolbar in Google runs on its own schedule and can be a month or two behind what Google is actually factoring in as the PR of the site.
That said, before you do recip links, it's a good idea to have a very close look at the site you will be linking to... take a look at who else they are exchanging links with. See if there's anything dodgy about it all.
Incoming links won't usually hurt you, but linking out to the wrong sites sure can.
If you have a PR5 now, and if you are doing well in the serps, do you even need that link?
These are all factors to be considered.