As the semantic moderator of this forum let me take issue with this statement of Jill's.
Nope. It's got nothing at all to do with reciprocal links. This is a big misconception that people have for some reason.
The search engines don't care if someone reciprocates your link. And in fact, as others have stated this may even be less value if they do.
What you want is links pointing to your site. Not reciprocal links. (They are fine, but that's not what the engines are looking for.)
While I agree that it is not the fact that a link is reciprocal that is of value. In fact many links are reciprocal. And to a point made by QWERTY, utopia is that your page is soooo important and sooooo valuable that the world will beat a link path to your door. But the majority of us mere mortals end up offering a reciprocal link for most of the incoming links.
Now there is all kinds of mathematics involved with the value placed on incoming links and the value your site "gives away" when you place an out going link, but the truth of life is that a high percentage, I would even hazard to say a very high percentage, of links on the Internet are reciprocal links.
So I don't think Talking Bear was specifically referring to "reciprocal links" as apposed to non reciprocal links. I think he was only talking about links in general because frankly most of us think of them in terms of reciprocal links because the vast majority are.