I closed down all of our banner, button and text link exchanges a few months ago because the CTRs were getting crazy, less than 1 click for every 1000 impressions.. In essence, they have become worthless on surfer traffic over the last 1-2 years except for those sites that are well branded in the eyes of our surfers.

That being said, if you can find a decent 'honest' exchange still running, you might find you do well with it so long as you constantly update your banner every month and dont have the exchange code in a prominent placement on your sites.. Hide it away somewhere that gets enough traffic to generate credits for your site but where surfers wont be clicking on the exchange code and leaving your site

B2B exchanges, is another story completely and im currently putting together the basics of a B2B banner exchange right now as it happens, specifically for gay traffic

Regards,

Lee