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In my opinion link trades should not be evaluated by the type of site, ie link list, directory, tgp, mgp, blog, hub, etc. They should be evaluated by quality. The question to ask yourself is, "Is this the type of site I think my surfer (or I myself) would enjoy visiting"? If it is, then link to it, if not don't.
As an example, I no longer submit to very many blog directories because most of them accept anything including splogs which means a ton of duplicate content all over the place.
On the other hand, I'm more than happy to link to a splog if I feel that more has went into it than simply syndicating sponsors feeds.
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