Reciprocal Linking is, and will continue to be devalued in the long term.
This SEO strategy, and any other non-natural link building strategy does not adhere to most major search engines terms & rules.
Many of us, including myself, have for years engaged in techniques that are not in compliance with Google’s, or other SE’s rules.
Personally, I think that reciprocol links are no longer a good viable strategy and people need to start looking at alernative link strategies to compete in this very competitive market.