Re: Reciprocal Links vs Paid Directories
Reciprocal links have come under fire lately at Google (Read the incredibly long AA thread, or the 60 day penalty thread etc) at this point, unless you know what you are doing, I would steer clear of peer to peer reciprocal links.
In terms of paid directories, they are one way, so they will not hurt you - how much they help depends on the many factors of quality for the directory, traffic, trustrank, pagerank, how many links on your specific page the list goes on.
Starting LEC 7 soon but it won't be called LEC 7 - LEC 2012 coming soon!