I know most people think that reciprocal links are a bad idea. Most of the directories I've been submitting to want a reciprocal link back. Would using <meta name="robots" description="noindex, nofollow"> work from keeping the spiders from seeing the reciprocal link to these directories?
Yes, but it would also probably work to keep you from being included in those directories.... at least 95% of the directories.
What i am thinking is if we are going for reciprocal linking, the page of respective pr should be more than our's from we are giving the link back, than and than it will be benefited, Other wise try to make good quality one way back links.