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>>have now heard from two webmasters that Google is only looking at home page link exchanges.
How would they know that for sure? Is it because some of the backlinks from sites aren't showing up when doing a link: check?
One explanation for that may be that interior pages are < PR4, but that isn't the whole picture. Are they saying that it's PR that isn't being tallied in, or that it's anchor text that took a hit?
Also, how about "payfer" links? How to be sure? What if it's a PR8 homepage link for $2K a month and links from across a whole site cost multiple thousands a month? How would someone determine which and how many were actually being factored in if the site they were purchasing for was a PR7? Can they figure it that precisely?
Let's play "imagine this." Suppose that Google has some "secret intelligence" folks that put up sites and go out to shop links for sale, gathering stats on pricing. Wouldn't someone have the last laugh if only the homepage could transmit PR or anchor text value, if any at all? How would an outsider from either end, buyer or seller, be able to know for sure unless they ran controlled experiments? Pure folly, but it's an interesting thought. And the subject of multiple links from the same site is worth pondering for a few reasons, once the dust settles.
Incidentally, this issue comes up periodically because it legitimately concerns web designers who have 100% legit reasons to put links on multiple pages of client sites.
And if what was on -va and -fi and moved over to the Big_G are what we finally get, if it's conceivable that there's any indication of a vague possibility of some tweaking in this area, take a look at what someone made mention of, re web design <some local area> and see what kind of ka-ka results are turning up in the SERPs.
Look any of those up for any competitive metropolitan area and see what turns up.
I would say that the more links you have the better.I agree with that completely.
:-)