After word got out that dear old Google is either ignoring or giving fewer points in that mystical concoction called Google's algorithm, website owners like you are probably receiving a substantial number of 3 way link exchange offers. X offers to add a link to Y's site in exchange for a link to X's site in your link directory, usually with a short sales pitch proclaiming this 3 way link exchange to be the perfect method to get those all important one way links Google rates so highly. On the surface, it seems like a wonderful deal. You provide X with a link on your website, and you get a link on Y's website in exchange-so you and dear old X both get a one way link and a couple of points added to your Google algorithm right?.