400 really is an awful lot.. I'd try to break them down like this:
a) accepts an fpa and pics on html
b) accepts an fpa but no pics on html
c) accepts no fpa but pics on html
d) accepts no fpa and no pics on html
Now try to build at least one version for each style with 9 or 12 link lists per index page.
Also, when you pick your "smaller" link lists to work with, try to confirm that they archive links *forever*.
I took a quick peek at my oldest domain from 99 or 00 where I built my first free sites, and quite a few of those "smaller" link lists are still sending me anywhere from 10 to near 100 hits per day.. about 5 years after being listed!! Thats amazing, lol.
Do the math over 5 years.. thats not bad, and leads SE spiders on a merry chase.
At any rate, I'd recommend breaking them down like that and building for them all. Definitely get those big ones tweaked for that big surge in traffic and be consistent over the years. But dont forget the small ones entirely, because over time it can build up (if they archive permanently).
Good luck!
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