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What you should watch out for though, is linkfarms, bad neighbourhoods and getting too many links from guestbooks and the likes. Basically, if you just ask for links and distribute links for your visitor's best interest, you should be fine!
Although this may get caught, it proves a point. But not yours.
I dont go excessive, maybe around 50 links or so in total, and all the other sites are actually relevant to my visitors. I was just wondering if I had to be concerned.