Hi,
My favorite way to get links (but the most time-consuming) is to simply have the best site on the Internet in your specific niche. Interestingly enough, if your site is well written, provides tons of useful information and is constantly updated, you often won't have to seek out links at all. Other sites will link to yours of their own volition.

This has worked for me on my High Rankings site for many years. Without actively requesting any links (other than a few major directories), hundreds of highly relevant sites have added at High Rankings to their list of recommended sites related to SEO. Some people link to my home page, others to the main newsletter page, and still others to my forum. Some will link directly to an article or newsletter they've enjoyed, and some will ask if they can republish some on their site, while also including a link.

This is the ideal, and not every site is going to have the time or inclination to get to this stage. However, I firmly believe that any kind of site in any type of business can use this method if they are willing to work at it. I know of no other method that can even bring links from direct competitors! Personally, I'd rather spend my time creating a link-worthy site than sending out repetitive reciprocal link exchange requests...but maybe that's just me!

Your homework for this week is to think about how you can make your site so good that others will be only too willing to link to it -- without your even having to ask for it. If you can figure it out and actually spend the time implementing the strategy, eventually you won't have to worry about link popularity, reciprocal links or PageRank ever again!