I pretty much initially trade out with others I know on a new blog and yes, I do go look at the site and check who they're promoting.

Lot of link lists are just now catching on that they need to add blogs as a free site submission category, and finding good ones that take a gay blog is still a bit murky, and many don't understand what a feedlist is about, so trading amongst other bloggers is pretty much your only initial way of getting some traffic moving around.

As to what I promote vs what they promote niche wise ... you never know what will perk some interest. I view my blogroll like an assorted niche moneybar ... if they didn't buy my main product, maybe they'll like something else they see offered.