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Good luck to you. Everytime I find a link exchange partner that has removed my link, what kind of words do you think come out of my mouth?
I wouldn't recommend linking out from the home page unless you have to as it will leak PR and that PR on the home page helps your inner pages gain pr.
I make a point when someone adds my link, then removes it, to send a spider out to crawl all sites linking to their site, get their email addresses, then email them to advise the site they were exchanging with, no longer links to them.
By the time the webmaster of the site realises "Oh #*$!, its broken" they may ahve lost half their link partners.
...they may ahve lost half their link partners.
The question is not about weeding out bum recips, it's about dropping recips altogether.
So I'd like to know what is more important than ranking well for competitive terms? What is the objective for monkeying around with something that is already working well to begin with?
As far as I see it, if the site is ranking well, there is nothing wrong with the picture. Aside from attaining one way inbound links, there are no improvements to be made: The site is already ranking well.
And even if the PR of a page was to drop slightly because of outgoing links, there might still be a ranking advantage - to that page - in having those on-topic outgoing links.