question on whether google would recognize this as a backlink... if there is a link on www.site.com to www.secondsite.com BUT, the HREF of the link goes to www.site.com/trackingcode.asp FIRST then redirects to www.secondsite.com
I would guess no from your example: href="redirect tracking url" and not target url. I doubt any of the linked pages list this link as a backlink in the search engines.
It would depend on whether the redirect script was excluded, and whether they used a 301 or a 302. In general, though, if a redirect script is used on the referring site, even if it were a 301, I'd guess a SE would devalue it because it smells like a redirect script.
Remember recognize as a backlink and giving value for SERP is diiferent, what is important is considering a link for SERP.
okay then - so if someone posted your link here: http://www.letsbowl.net/component/option,com_weblinks/catid,16/Itemid,23/ would it be worth anything? should i swap with this site or no>?
It depends on the traffic that you can get from the placement. If your purpose is PR ranking or any type of search engine value, then it will be worth nothing. But, if the site can bring you real traffic, then those real "people" can provide value to your website. Bill Platt