Has anybody done any case-studies or noticed link devaluation in blogroll links over the past 2-3 years? I noticed in 2013 one of my sites had about 3-4 blogroll links (all for the same anchor) from a PBN in the BST section. Said site was ranked #5 previously but since then has dropped and hardly been able to make it's way back to Page 1 even with authority guest-posts and homepage permanent posts from other networks. It stays stuck between #11-15 normally. I'm thinking the blogroll links may be a culprit. I'm interested in hearing how people treat blogroll links in today's SEO climate.