I have 9 resources pages with a ton of links (prob 30 on each page) they have been there for a long time, who knows whos reciprocating, some might even be three way links from a company that did seo a long time ago for us. Is it important to get rid of the ones not linking back? Is it more than just giving them a free ride? If i eliminate say 70 of those outgoing links will it help with my ranking position? Thanks for your advice!
It ill not improve your rankings. Try to get some good content for your website and do some strategic link building. If you have good content people will give link to you, that ultimately reflects in your ranking i mean you ill get higher search rankings for your page Remember content content content that ill do everthing for you .
As long as I know google says to keep it less then 100 outgoing links on any page. http://www.google.com/support/webmasters/bin/answer.py?answer=35769 So 20 to 30 is not a problem as long as you don't have bad sites in the links.
The advantage getting rid of dead (not reciprocating) links is that it enables you to pass on more page rank to your internal pages.
I do want to clarify one point- If you remove those links which is not of useful to you (Unless they reciprocate you), nothing will be lost. But Building useful links link posting directories and get useful PR-4 + links to your site will boost up ur ranking. If you want, I can give you PR-2 link for which u ought to place my blog there...
Outbound links to quality sites help improve your sites ranking by building your sites trust factor. If the links are of low quality get rid of them.