as google cracks down on link farms, who do u think will feel the pain > i think the person hosting the link farm will gt more in trouble than ther person that has a link on the link farm scenario,- what if a person on a link farm just put everyones link on it? why would other sites need to be penalized for that? surely google took that into account?
if you are not linking to a link farm, it will not effect your ranking. you will not have any control on the sites which are linking to you
Other sites can affect your ranking by using links from link farms to improve their own rankings and thereby get ahead of your site, causing it to fall.
Link farms hurt the average user out there browsing the internet. By pushing crappy sites up the SERPs, the user has to search a lot longer to find a satisfying result. After all, SEs main targets are to provide a satisfying user experience. To answer your question: no one but webmasters running the crappy link farms will be hurt - but it's good in the long run when users receive more relevant search results.