I believe the correct method of exchanging links is to contact a webmaster personally and ask for an equal link exchange, page rank for page rank. What do you think?
Agreed, but for lower PR link exchanges I think linksmanager is a great time-saver.
As for bandwidth… either get a better pipe or simply block the spider with a robots.txt from all you directories except your link directory.
User-agent: linksmanager
Disallow: /cgi-bin/
Disallow: /graphics/
Disallow: /banners/
Disallow: /secure/
etc…
it’s really that simple…..