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The issue relates to Google's duplicate content filter, and what I believe is a bug relating to the 302 redirects.
301 permanent redirects are by far the next safest Google friendly form of links from a straight text link.
>> 302 redirects for are real bad for the people you are linking to...
But are they a real bad for ME?
I consider the internet is a community. If your links harm another sites rankings for a phrase, then you should do as you have done to put it right. Do unto others as you would like them to do yo you, and all that.
While it may give you rankings for the moment, you don't know how the algo may change to make it a negative for you in the future.
People are more likely to want to recip link with you when you provide quality links.