Are reciprocal links of any use?
As I mentioned in other link building posts, Google evolved its capacity for detecting low quality link exchanges, constantly diminishing their value towards zero or even negative figures. The reason why link exchanges dropped so dramatically is because of web’s evergreen reason – abuse.
I’m not saying that exchanging links is a banned practice in Google and other SEs perspective, but rather the abusive way in which is conducted and its approval or not depends largely on with whom you’re hanging out.