Bad idea to use a redirection script to point to outbound links?

[Trigger Happy]

Doesn't seem to affect celebsdb, for example,

http://www.celebsdb.com/Teri_Hatcher/

which I think uses the same thing you are talking about for links to sponsors and is top for many google terms.

Of course doing it that way means you won't get the value of a backlink for any site you link to using redirects.