I do not think it's dead but it no longer carries the weight it once did. There are a lot of factors besides reciprocal linking that will increase rank or traffic. Age is a big factor....and google regards age is a big plus regardless of how many "reciprocal links" you have. My Nickel's worth Paul
Reciprocal links are not very good anymore in the eyes of search engines. The best thing to do now is to get many one way backlinks! check my sig out
Reciprocal linking was never good in seo book. Though not ignored totally. Now people are seeking only one way quality links. And this way I agree that reciprocal link is dead. They think that they will loose PR if do much reciprocal linking.
I stopped using them a long time ago - people started to request them and took their side off once you placed your link. Also, even if leaving the link on I never saw an improvement in ranking. I did however got some good traffic out of well targeted link rings in the past - not using them anymore though. Too much hassle...
No .. Reciprocal link exchange is also a good way for link building but its true that now a days this way of link building is not more in use..
I agree, recip links are def not dead. However, it is always nicer if you can get a "one-way" link from the same page
I don't think it is dead but not worth as much as it was. Normally I don't like reciprocal link exchange.