Many say two way link exchange is not working any more and claim three way link exchange is a way forward. What do you think? And if it works where can I find link exchange partners?
Anytime you have to GIVE a link in order to RECEIVE one, it's not going to be effective. Remember that the number of outbound links you have adversely affects your PR. The idea is to get ONE WAY links on high quality, relevant sites with good PR.
Yes you see two different opinions on this. I had, like many others hundreds of two way links. Two years ago I had a little free time and I checked my "link partner" to insure they were linking to me. 80% had dropped my link to them. I emailed them and 1 out of approximately 120 responded. They claimed the link was "somehow" deleted and would be happy to put it back up. I deleted the offenders and have since only taken 1-2 reciprocal links a year. Three way links completely are a waste of time in a practical sense. Look at the offers you get and see if you are not being offered a link from a pr1, 2 in exchange for your link to a pr3, 4 or perhaps a 5. I believe and have read from google as well as many others here who I think know what they are talking about that 3 way exchanges are just another way to manipulate the serps and google frowns big time on that approach. 3 ways are just a sneaky reciprocal as far as I am concerned. Others may disagree but I don't do them, don't see why I would.
Yeah Google doesn't value link exchanges much anymore, and its harder than ever to actually get any links from link exchanging because so many webmasters are reluctant to do it these days. Even if you do exchange links, it will mostly likely be from 0 pr pages or even "nofollow" links.
A little bit of monkey see, monkey do here yes webmasters are reluctant- actually unwilling to do them at all. However you interpret googles oracle from the mountaintop on reciprocal links= manipulating the serps, let me give you an example. My wife asked how she could help with links 20 months or so ago. Told her that she should email our standard email to relevant sites requesting link exchanges- remember 20+ months ago. We sent out about 400emails. Got less than a 2% positive response. 3-4 and 5 years ago the response was closer to 34%. Take from that what you will. I would say the response rate now would be less than the 2% on reciprocals if you can even find sites with link pages. On 3 ways- ??, don't bother. There are so many better ways to spend your time.
Link exchange belongs to the past... you'd better try other things like article submissions to directories allowing you to put the backlinks inside the body of your article or press release.