Where The Links Lead
(Tip: Always use your Blogger or Wordpress ID or fill in the email and URL information so that folks can find/follow you.)
When you post a comment here I want to know more about you, so I'll follow the link. Looking at your blog or website gives me insight into why you believe as you do. And it often leads to interesting things...
A recent example is Urban Iconoclast's comment. From the ID link, I found 'his' blog and several of his blog pals too (many of which discuss marketing, so I urge you to go and link surf).
One hot topic running about nearly as frantic as any blog meme was the topic of Z-List and Z-List 2.0. Like Sugasm the idea of Z-List is to create link swapping hotlists which employs a blog post to send traffic to other blogs. However, unlike Sugasm the list members are not all on a theme. (For evidence thereof see Servant of Chaos, where the Z-List 2.0 is provided, showing that these blogs are not on a theme.) The problem with this is two-fold: Your neither build page rank or other authority with search engines, nor are you offering your readers more of what they are looking for.
As usual, I am more worried about the latter point ~ where you personally direct readers. If someone enters a Z-List member's blog, lord knows where they are sent, what they will find. Yes, you may get more eyeballs to your site, but it's my opinion that you're sending folks away to 'anywhere' just on the premise that you'll get eyeballs sent to you as an 'anything.' It's not targeted traffic. I'm not sure how much use this is unless you are desperate to get someone, anyone, other than your mom and sister to read your blog.
In defense of Z-List, it seems that they are trying to create a system or list from which you can somewhat pick & choose who you link to. However, the problem with selection from the list this way means you are not guaranteed to be selected (linked) yourself ~ and if this is all a crap shoot, then why bother to be on a list? Why not just hand-pick who you want to link to, swap with, and share readers with.
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