Link Exchange software is mostly software that requests links via e-mail or thru semi-automated link exchange directory submissions. I've tried Arelis and IBP with minimal results. With Arelis it takes some skill to really use it properly plus it's hard to keep track of who is linking back to you and they often get the wrong e-mail by default. I'm trying Seo Elite now and its easier to track backlinks without them notifying you of where they placed your link etc. I will try submitting to directories and finding link exchanges next. Other link swapping software like gotlinks.com isn't a link farm but what would be classified as a linking network which is devalued by google. Link Services like the Digital Point Co-Op and Linkvault are the most respected amongst this group. Some people like linkexchanged.com, linkmetro, etc.
Ofcourse there are few free link swapping softwares. Like linkswapper, dencan craver's Automated link management assistant is really helpful if you want to get a free software. It's really free and has seo friendly urls. Generate on the fly urls in html. So try it and let me know.
Don't use such link developping sites who claims 10000 .... or more links on one shot when signup for their service. They are of no use. ALso when google sees you have got tons of links in one shot then it'll think they must be from text link advertising. SO no value. Link building is a process where both site's webmaster agree to show each others link on their site, it'snot about getting some dynamic links. SO no site like linkvaults or so... be careful