Gossamer Threads offers a shareware Links2 script which is easy to install and can be configured in all kinds of ways. It's free to download, but on the downside, it gets a little slow when you have a few thousand sites linked in the dbase.
They also offer the superior Links SQL which is very robust and configurable but is not free.
But if you are gonna spend to get a script.... then purchase something that was built specifically to do the job
http://usefulscripts.com/scripts/commercial/linkadmin/