I have done this with a couple of people. A 300 word plus article including links to the other persons blog in questions but again, you really need to do it as an ABC link unless that is what you are suggesting? Five blog owners, each writes two articles about two of the other owners in the groups site?

I like the idea of Useless Warrior and Walrus, you just give them a front index page link and then submit articles which they link to. When and if Google start mixing it up again I feel sure that blogs with more links to their 'articles' will weigh heavier.

That is how I was going to start out our blogs to bring traffic into the site and then send them off to our sponsors. I started looking at several blogs that were sucessfull and were making money and followed their lead. Turn out that I started posting pictures and doing a few comments about them or using text the sponsor used about the pics or a story maybe, I'm not the writer in the family the wife is much better than I am... she a published writer.
After search engines starting picking up the blog along with a small amount of pinning the blogs started getting a good quality of traffic.
What I mean by quality traffic is sales! see below response to Jim
I now have plans on bring two other domains in the blogging world one is being test now which is holding it's own and the other is getting off the planning board and about ready to start and linking each one to the other. If I could be the wife to do stories and etc... which is she really good at I believe all three domains will take off, at least that's what I hope for

No I really didn't start out blogging to get rich...and to be honest haven't yet. Our main blog though along with another blog that's on a free hosting blog site both have sign ups each and every month...rebills too from two main sponsors another sponsor is converting as per sign up and thinking along the lines of going recurring on that one as well.
As far as the real blog...no non of them are a true real blog although some of my visitor seem to think so. I am one that's doing the posting for the most part the wife the proof reader since my writting skill stinks.
We have been married for so long that I know how my wife talks and thinks that I use a alias and post as a female using how my wife would talk or pharse things. I had a couple visitors email and ask if I go out with them...LOL....one even included a pic...LOL. Had one visitor that though I was the female of my best sponsor and wanted to date me etc....
On the real thing I did have one of the services that we ping post one of my postings as a real couples post.
It's a labor of love thing I guess reading and studing other blogs has really helped as wordpress says have fun with it and that's what I do have fun... along with talking with four other adult bloggers that have sucessfull blogs has really help too and expand on their ideas...to be honest I made more off the blog(s) than I ever did with free sites tgp's avs and LL's. Been a off and on again webmaster for the past ten years (remember greenie on another board when I started out) and going full time now.