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Webrings - Can they be brought back to life?

Jim's hit on something simple here.  Webrings used to rule the roost for traffic.  I used to - and really still do - love them.  There's one problem in todays SEO climate:  you get no link points (goes back to webrings.com or whoever runs it)

His idea if you changed the code so links were worth something it would be good SEO-wise (particularly with the death of various link-swap strategies).

Jim:  I don't think this is SPAM.  Google has been cool with Webrings version 1.0.  Why would they have a problem with a webring that passed linkage?

In short webrings define a "neighbourhood" and as a result I think Google will appreciate that.

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