How do you choose your link exchange partners?

[alessandro]

I don't think any LL owner thinks about PR bleed since by definition a LL links to hundreds of sites at least on each page. But, it's true about relevancy of the sites you're linking out to

Originally Posted by Halfdeck

I agree with Linkster, especially about the importance of traffic when you're trading and the value of linking out to sites you like. If everybody linked to a relevant, quality site instead of running trades for PR gains, you'd see your sites rise quicker in the SERPs.

One thing alot of people obsess over is PR bleed on your page with too many outgoing links, so they try to limit trades per page to 20 or whatever. PR bleed is nothing compared to relevance you gain by linking out and backlinks you gain if its part of a linktrade.