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I would advise strongly against using all such "link schemes" like the plague.
Before I understood SEO I dabbled with one such scheme and it held back my rankings (and I suspect the trust Google had in my site)
Once I removed the scheme and links (and my "link partners" stopped linking back to me) - my rankings soared with a couple of months.
What you need is a totally natural and balanced link profile - and link schemes will not achieve that for you.
A handful of highly relevant reciprocal links are excellent - but only as part of a balanced link profile which should also include relevant one way inbounds, blog comments, articles and press releases, forum participation and so on
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