Content Is King for Generating Traffic - It should be...
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It should be said that three-way link exchanges, like some other link building strategies, is not as effective as it used to be: “Despite what many people think, three-way link exchanges can be easily identified by search engines and if there are a large number of these types of links are present, it can result in a ranking drop or ban.” Nevertheless, this remains a viable strategy if not overdone. The key to leveraging three-way links effectively remains, as always, the quality of the link and of the content.
Delivering relevant links from relevant content is the key. [Klasno 2006] and Walsh  both recommend three-way linking: "The idea is simple: you give other websites content to put on their sites in exchange for a link to your site. The beauty of distributing content for links is that the links generally generate more traffic than links on a resources page. Plus, your article will pre-sell readers on the value of your site."
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