While the subjects of one way and reciprocal links have been overdiscussed and the same points revisited over and over again, the benefits of insite liking still remains underexplored. There is a nice post at Pandia which discusses insight linking quite thoroughly.
According to the post, advantages of smart internal linking include:
- Highlighting particular phrases for certain search phrases
- Anchor texts of these links tell the search engines clearly what the page is all about
- Spreading the link power and Page Rank value within the site
- Linking to the best articles on the site ensures that the visitors stay longer
- Bringing back dormant articles from the archives to the surface.