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4> robots.txt exclusions The robots.txt file is used to inform searchengine spider which pages on a site should not be indexed. When you exchange links it is a good practice to look at domainname/robots.txt just to get an idea if page where your link is going to be placed is within reach of crawlers - or not.
6> IFRAMES An IFRAME is a page inside another page. If you encounter a site that is using an IFRAME to link to other sites, you should visit IFRAME url and check PR of that page independent of outer page. You should determine worth of link by PR of inner page.
7> In Context Links There is a good amount of speculation and I myself do believe that incontext links are given more importance by searchengines. So if there was a choice between an in-context link like The work at home business community ... and a standalone link like Work at Home I would certainly go for in-context link.
8> Link Title It is important to have your keywords in your link text. In addition to link text link 'title' parameter also is believed to play some role. Work at Home is preferable to Work at Home When you move your mouse over first link, you will find a small tooltip like description for link. The title parameter works link alt for images.
9> Bold Links in bold are believed to be given more importance, Work at Home Is preferable to Work at Home
10> Prominence Some people have debated that higher on page that your link appears, more important it is considered by search engines.
Those are points to remember when you exchange links. When you search in google for link:yoursite.com you will be able to see important backlinks for your site (or your competitor's). Usually pages with PR4 and above will show in google backlinks and these links are most valuable link partners from viewpoint of search engines.
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