A reciprocal links have remained at the forefront of most inbound linking strategies. This is going to change. Google now discounts all his reciprocal links. The algorithm has been altered to identify the exchange of links between two parties for the purpose of increasing their number of links.
The concept of reciprocal linking defies Google’s original intention with the algorithm. Quality content should attract links between two parties. The exchange of links is nothing more than a mutual agreement to unjustifiably promote each others’ content with the end goal of promoting your own. Google doesn’t particularly like this.
Some even claim that Google is now able to identify three-way linking schemes (i.e. website A links to website B, who links to website C, who links back to A). Whether this is true or not it’s hard to say. One thing is for certain though: inbound linking strategies should NOT be centered around reciprocal linking. This manufactured form of link creation is not well-received and is ultimately a waste of time.