Spending time link swapping is just not effective for a variety of reason. To sum them all up, the time and effort it takes is just not worth it!
For link building you are better off spending time creating social profiles, submitting online press releases, white papers, marketing articles, posting relevant useful replies on forums, starting a blog on a different domain and creating anchor links within each post back to your sites pages, finding related niche directories and the best of all writing high quality informative, educational and useful content for your web pages so other sites will link to you without even asking them to.
Even creating an outbound link to information that is useful to your visitors is time better spent on SEO.
