What Randy said… If you got the email address off a links page, it’s okay.
If not – it’s SPAM.
When someone sends out 1000’s or just 100’s of link exchanges all at once it is DEFINETLY SPAM.
I have 100’s of sites… when some jerk does this, I get 100’s of emails on the same day from the same person and it pisses me off — and they just shot themselves in the foot in regards to actually getting a link exchange from me.
Not if I have a great website with PR6 and their’s is a new website. They would of course be the only one benefiting.
You might try a more humble approach – realize that when you are trading links with someone – it is YOU – who initiated the exchange. YOU are the one who thinks its a good deal.
Usually a trade is considered “mutually beneficial” only after both parties agree to this.