I haven't specifically looked at Link Partners, so I cannot comment on it.
There are websites out there that are dedicated to helping you find on-topic links, and that's generally a good thing. By browsing a directory you can find on-topic websites that are interested in trading links. The website helps you build a relationship with other webmasters that have sites that are on-topic to yours, and that can be a good thing.
It's like networking--you go to trade association meetings to find people who do the same thing as you do, and network with them.
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