It seems like everyone out there has an automated link exchange directory. In fact most offers to do a manual exchange with people are met with a response of "go add it at my automated page." So I'm thinking about joining the club to save myself a hassle. You need to be careful not to become a free for all where everyone starts adding their por* pages to your directory, but that could be easily resolved by hiding the page from spiders.

Any thoughts on the different options out there and preferences/favorites?