How is everyone making out with removing those old hat seo anchor text backlinks?
The Webmaster Tools show you just a fraction of your links. I usually combine link data from at least two additional backlink analysis tools. One of them is mentioned in this thread: [webmasterworld.com...]
Chuck it all into an Excel spreadsheet, remove the duplicates and post a job on one of the many freelancer boards.
All sites have some "old hat seo" (I like the term btw.) backlinks - your responsibility is to evaluate the proportion between the good and the bad links and decide whether there's an obvious "footprint" in your site's backlink profile that warrants the lengthy and expensive task of link removal.
The fact that a site hasn't received a penalty during the current war against webspam, doesn't automatically make it safe, because you should think about the possible future manual penalties and algo updates.