I was reading a post about Page Rank Leak over at "Rob's Million Dollar Experiment Down Under", the post was about how having to many outbound links on your main page could possibly have a negative effect on your over all page rank, he also refers to an article that explains a lot about how PR works, I tried to read through it but, um, well it hurt my head, it's just a really in depth look at PR.
With MPL I have a link list of about thirty, most of which are link trades and where the list is placed now has no real benefit to any one, I barely ever see any out clicks from this list in my stats and it takes up a lot of room in my sidebar.
Rob has placed the majority of his links into a single post and placed the top referrers onto the main page, which he will update every month.
I have just done something similar with MPL, I have made I single blog post with all the links from my sidebar that I wanted to add and also added an automatic top referrers list with the link to the post just under it. At the moment I'm just testing it all out, so I have left the old list intact.
Right now I see the link post as a good thing, It's going to be easy promoting it, directing people to a complete list of links along with being able to drop it into conversations, forums threads/replies etc, meaning giving direct exposure to the links on the list. As for removing the list from the sidebar, well I don't know what kind of effect this will have, but eventually I feel I can get that individual post to a PR that has the same PR as the main page.
With the automatic top referrers list, well this is something I have wanted to add to most of my blogs for a long time now, but was never able to find one for a blog. Robs post got me to Google again and I found one that is completely a breeze to use called eReferrer, sign up, add the code and your done. Your referrers will immediately start to be listed, you can set the number links to be listed, they have filters and such and you can manage the list. I'm still pretty new to it though so I'll probably post about it again some time.
Referrals from multiple links from an individual site are lumped together, for example all the traffic from Google falls under one heading "Google" so you wont have to worry about having your list full of different links from the same site. I think this will give people some incentive to link to MPL, the referrers list is in a prime location and I have seen a lot of click throughs from that spot.
eReferrer is about to go through some changes, upgrading their site and service, adding more options and generally making it a more powerful tool, looking forward to that.
In summary, I think this post is a little long winded and upon reading over it I don't know exactly what I am doing , so I'll probably do an update to let everyone know how it's going.