Reciprocal links were once the thing to do at the turn of the century. Many feel a reciprocal link negates the value. This does not seem to be the case. One cannot say all reciprocal links are bad. For example if the New York Times interviewed me and linked to this site, I most certainly would link from this site to the article in the times. This is a reciprocal link. But, is this really foolish? No, Its natural. It really shouldn’t be negated. There is still value in the link to my site from the times.
In some cases, sites of a similar topic that link to each other strengthens the authority of each. If a “Save the whales” organization in the US links to similar organizations in 10 other countries. And, if each of those in the other countries link to each other and to the US site creates strength. This is natural reciprocal linking.
Reciprocal links are only bad when the sites have nothing in common. Otherwise, it strengthens things.
