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A linkdump basicly is a page where you can submit your link to and it appears on the page but as more links get added your link will go further to the bottom of the page and will eventually disappear from it.
A toplist is a page that you submit your link to but in order to get a good position on that toplist you have to send hits to that toplist yourself. So basicly you start at the bottom and the more hits you send to the script the higher you'll climb on the list. As long as you'll keep sending hits your link will appear on the toplist (assuming you reach the minimum hits required).
So basicly with a linkdump you'l get "little" one way traffic for a few days and with a toplist you're trading traffic "forever".
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