are blog roll links safe still?

I was considering buying a domain with PR to make into a blog for guest posters and throwing on a link to my money site on the sidebar. Get some massive sitewide links that way, is this still a decent method or is penguin out for that?

we got a penalty to a few sites with blogroll only links . google says they are no good but people still sell and buy them

I would use that high pr domain as a part of my private network. I was just looking into this today

Wow, nostalgia. Somewhere between the lookout and caffeine updates I noticed the value of sitewides had been scaled back to about the value of the highest PR link from a given domain, generally a homepage link was about as valuable as a sitewide, so rewrote the blogroll widget to show sets of links based on rules (like is_home mainly) but have since abandoned blogrolls completely in favor of demand media's style author/title/anchor interlinks on pages that have unique content.

I have my own Private PR 5,4,3,2,1 websites do let me know if you want back links, and I am not penalized from google, my sites are getting links from them and they all are on 1-2 pages.