If Danny Sullivan's report over the weekend that Google is in fact reducing the PageRank for sites that are suspected of selling paid links isn't enough to send the entire paid links industry underground, then I don't know what is. Add to this the storm of controversy that recently occurred over Rand Fishkin outing sites that sell paid links.
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Interesting points are made. Google would like everyone to think that any paid link not endorsed by them is illegal and immoral. You often hear comments to this effect in the various forums when in fact paid links are just another form of advertisement.