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How do you evalulate link value?

There are several things I look for when valuing a link, I know lots of SEO consultant knock PR but sadly I rate it rather highly as part of valuing a link, here is a list of the top five things I rake highly:

1. PR of the link
2. Number of outgoing links from that page
3. Quality of outgoing links (do the link go to just any site that pays the merchant or does it go to select site?
4. Are the outgoing link themed? (though this sounded like point number three but is different, he I mean does outgoing links link to (for example a gambling site, a webmaster site, a finance site or all link to website within roughly the same industry)
5. What position will my link be placed? (top of the page or on the footer?)
 
I would suggest one more additional evaluation criteria. The traffic that comes through the link.
 
You are quite righ bagi, does the link generate traffic? I think this is actually a very important question when you buy a link for traffic as oppose to backlink building.
 
I will talk about my webdirectory. I have around 2000 backlinks, domain is about 2 months old. At v7n forum a did a 3 way link exchange with two of his sites. Those links (5pcs) generate 20% of my daily visitors.

It was a really good exchange. ;)

Huge percent (50%) of my links are from free directories, they will never bring me any visitors.:(
 
MI
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