Free For All Links Pages have been given a bad name in recent history. The "green" internet marketer who posts to an FFA page and receives thousands of emails and very few sales for his efforts may find them too much of a hassle to deal with.
I can certainly empathize since I have been there. Luckily when I began my marketing career online I was already very familiar with email systems and was able to handle deluge of email that came back my way.
When dust had settled on my first few experiences posting to FFA's I realized a few things.
Blasting to 10 Million or 20 billion sites as Blaster programs I was using claimed to be doing wasn't generating a heck of a lot of sales.
But I started to read some of emails while in course of deleting them all. I came across an advertisement for an Ebook that showed me light and started my journey in "automated marketing".
The book pointed out that posting to FFA pages was a waste of time. Autosubmitters (like one's I was using) were posting to these sites. I never looked at 10 Million sites to fill in my information. I realized that nobody else was looking either. My posting on FFA page was never going to trigger a sale (except from FFA page owner maybe if he is checking out his links).
To make matters worse these sites often roll your link off their pages in a matter of hours giving you no Search Engine value from links. At time of posting MSN was still accepting FFA links as my check at Uptimebot.com showed me (I did a couple of blasts for Cobrasurf to see whether engines would pick them up, how long they would last and speed at which engines indexed them).
I don't want to get off topic into SEO but I do want to point out some search engines view FFA sites as "bad neighborhoods". It's your call whether you want to post there or not. I like to get ads from FFA owners to see what programs are out there and what's new. FFA blasts are a great way to keep abreast of what's "going on".
So what is value of an FFA page to me other than to get ads Mike?
I have to thank ebook for answer to this one as well. The best value you can get from an FFA page is not posting a link on it but owning it. Owning an FFA page allows you to send a one time advertisement to everyone that posts there. There are several services out there of quality that can provide you literally thousands of these types of leads a day. If you pay more in most cases you are getting better quality or more exclusivity with leads.
They will collect them, double opt them in (ie confirm their identity and email address deliverability), and in most cases email your message to them automatically at a time interval you select (ie 0-7 days delay).
All you have to do is set up your ads, and log in periodically to check your Ad tracking stats (you are ad tracking right?), change up your ad and subject lines and that's about it.