Building popularity and visibility on search engines
Bar Graph MDI (bar graphs in web browsers)
Headlines MDI (GRML web browsers)
Pioneer Report MDI (GRML web browsers)
Tree MDI (GRML web browsers)
Shareware Junction Pioneer Report MDI (GRML web browsers)
Shareware Junction Bar Graph MDI (bar graphs, GRML web browsers)
Shareware Junction Headlines MDI (GRML web browsers)
Shareware Junction Tree MDI (GRML web browsers)
Browsers Blog
GRML (web browsers)
Joe User GRML (web browsers)
The reason to check for directory listings (dmoz and yahoo), from a potential link partner, is to get an idea if it is an "estblished" site. Simply because a site does not have a directory listing is not good enough reason to cancel the exchange. You want to exchange links with good, quality sites with staying power.
A site in the top 10 for competetive keywords indicates someone knows what they are doing. Look for links to design and web promotion companies.
Networks? Pay close attention to the other sites linked from this one. How many other front page links are there? Does this site own any of the sites where they are linking? Is each site of the same quality and calibre?
As you can tell, the list is fairly extensive. It does take some time to check out. For each site worth exchanging links, store their whois data on a hard drive, preferably in a simple text file. Take your time and check out everything. Ask yourself, "Why have they approached me for a frontpage exchange?"
Direct, homepage links are like affiliating yourself with the other site. Is this site (and company) worthy of your associate? Will it detract or improve your own integrity and reputation?
Never consider a link simply for link popularity benefits. Building link popularity is easy, compared to repairing a bad reputation. Creating customer confidence is the ideal, because it builds reputation. While popularity is important, your reputation is always worth more.