I read that link exchanges and reciprocal links cancel each other out, lowers a high PR site's PR and increases a low PR site's PR. Is three way linking, triangle linking much better?
Link Exchange is being frowned by Google. Go for one-way links and you will do better with your SEO campaign. Cheers!
I have always thought 3 way is better - but for some reason some of my sites doing 2 way link exchange would be as good as the 3 way exchangers. So I think it is of the same seo value