They appear to work particularly in attracting se traffic - that kinda makes sense and is pretty obvious...
I don't have one as yet - just a couple of sponsor named blogs...
However I am always kinda hesitant to trade links (if I trade at all) with a pornstar/sponsor blog that I do particularly well with for obvious reasons - and I guess a few people would be of the same opinion
Foir instance if I make a sale a day from Pornstar A - why would I attract my surfers with a link to someone elses Pornstar A blog
