The blind link one as Licker4U has stated is a bit annoying (rejection wise) to me as well though I totally understand UW statement and how hard would of it been for me to just add an extra 3 line blurb on the image.
But honestly, how bad would it be for your surfer to click on that thinking its an image as long as he can hit the back button and come back with no problems.
Which leads into, I would rather have my surfer click the above and come back then click on a banner that states exactly where they are going only to be bent over and F'd by malicious back button redirects!
I have mentioned this before but more programs are doing this. You have to let the sponsors page load completely. So submitters check your sponsor. I understand you can get $35 a sale compared to $25 for their no pop link but unless your ratio is 1:5 or better you are probably loosing money because you have completely lost the surfer. The malicious redirects are usually going to full page AFF ads, which means no credit for affiliate, with no way of the surfer returning to your site or the LinkLists. Shit, some of them even manipulate other windows so when I am reviewing not only does it completely wipe out your site in a new window it screws with my admin so that I have to pull it back up and sign back in. That one pisses me off
If you think about it, why would a surfer ever click on a link or banner to that site/program again if they were just F'd by them. It does not create trust between that site/program and a possible consumer. Please come inside my strore so we can beat you with a bat if you do not buy from us.

This is worse than a blind link to me IMO.
Just to make myself clear, I do not care if it has a pop up that with a click of the back button returns them to where they originated. That is okay by me.