Link Exchange useful?

Do any of you have use link exchange to increase backlinks? I use it but doubt whether this is really useful

Link exchanges where there is no kind of editorial control and lots of non-relevant sites (aka link farms) are not in the least bit helpful to a long-term SEO strategy. Search engines very quickly wise up to any new link farms and disregard them.

Reciprocal links, where you agree to exchange links with individual sites, where your content is relevant to each other, are valuable and will help you in search rankings.

This seems to be one of those issues where you ask 5 people and get 7 opinions. I have read and participated in discussions on the subject many times and still am not sure about exchanging links from the “links” page on my site to the “links” page on somebody else’s relevant site (not a link farm). On the one hand, this seems like a really “1999” practice, but on the other hand, my own sites are regularly clobbered in the search engines by others who seem to use this technique almost exclusively…

This topic has been, and is being, discussed in other threads.

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