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We could do something to this regard. If you are still interested.

Link exchange was, is and will be. Times have changed and you must use it, instead of abuse it. Proper link exchange will do a lot for your site. You can get "seo juice" you can get traffic out of it. Post "google animal release" you have to make sure you exchange with relevant sites etc.

If by 2 way you mean reciprocal linking and by 3 way you mean ABC. ABC is better for page rank, reciprocal would work for page rank as well and would also work to drive traffic to your site, depending on where the link is placed.