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I have not been using exit links so far without trouble. But I had actually decided to try it out (as of today) and send it to one of my mainstream sites.
I think the best thing to do if you are using an exit link is to build a relevant mainstream site or some sort of mainstream traffic filtering hub as some of you guys have already mentioned.
Exit links for SE traffic would likely be more effective from SE traffic than actual LL traffic as surfers on LLs will already be looking for porn whereas a surfer from SEs may have typed in an obscure term and actually be looking for something mainstream. There is still the curiosity factor that may cause a surfer to click on the exit link and they could still be looking for porn, maybe a small link back into the adult network could be included on your mainstream site.
Making money out of your exit link should be possible but like most things in this biz it will be trial and error. But I think there is some pocket money to be made from it and I have heard some people do.
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