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Reciprocal links
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 Are they worth anything, if they are from relevant sites? I'm I better off avoiding linking back wherever possible? 
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 I think our situation falls into that of the gentleman with the NYT links, except our sites aren't quite that bad. We do occasional round-up posts (ie: best co-working spaces, etc.) and some of those folks link back to us to show that they were included. Is that OK? 
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 We typically add an accreditation link (follow, to us) into the footer of all websites we build, and if the client also supplies a "testimonial" to us, then we add that to our testimonial page with a link (follow) back to the client website. Is this good or bad? 
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 Not at all, I think it's quite obvious to both the user and Google that you're not doing anything manipulative, but merely linking to your (well-earned, no doubt) citation in a major publication. Furthermore, you're never going to be seen to be linking to a suspicious site if it's the NYT! 
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 I have some great links from the New York Times, do you think it is unwise to link back to them if I find a useful article? Can this really be seen as a reciprocal link!? 
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 Not really. By definition of the PageRank algorithm, having an external link on your page means the PageRank the page has passes off the website, but the amount lost (if any) put against the amount gained by having the link is negligible. The main concern is that if your website is deemed to be linking to poor quality, spammy or hacked websites, then Google may look upon yours dis-favourably But I can't see that being a problem here. 
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 Thanks Tom. For one site in particular I have some very good reasons to link back and forth with another related and trusted site - I just wanted to be sure that I wasn't endangering myself by linking back. Does it 'water down' the link juice if the link is reciprocal? 
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 Reciprocal links get a pretty bad rap, for pretty solid reasons. Link exchanges with masses of sites, whatever the relevance, does look pretty unnatural and may flag up as a link network. We definitely don't want that. However, if done sparingly and kept to really relevant and related sites, then it's a nice traffic sharer, link builder and authority builder. SEOMoz and Distilled pretty much have reciprocal links on the go, but that's because they're highly related and offer great content and work for one another. In turn, as a user you may be more inclined to visit either one from the other's website, while the endorsement can serve as an authority check. I'm quite a fan of legitimate testimonials where link reciprocation occurs. That can look natural and, again, is a nice trust builder. I'd never go too crazy with reciprocal links and I'd only ever keep it to websites who are related to, have preferably worked or collaborated with you on a project and that you, yourself, would be proud to endorse professionally. Follow that, and I think some reciprocal links can be OK. But there's no doubt that the tactic has been abused by some. Don't give Google any reason to think you've fallen into that bracket. 
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