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I love the idea of creating a tool that links to your website. That is a great way to build natural backlinks to your website.
I also like submitting to directories when starting a site, as it is a good way to get a base of backlinks built up. These are not very valuable links for google, but they don't hurt you either with google, and will help with other search engines.
I do not suggest link exchanges at all. Once you get a base of links built via directory submission and/or purchasing links, you simply need to be providing quality content on your site and build natural backlinks at this point. The only benefit I see with these links is if you are getting your link placed on a similar site and the link is in easy view of that site's visitors. Getting a link like that though will require you to do the same for another site and to me, those links just don't look good on a website.
Forum signatures are ok. They are merely one linkback though, so don't think that you are getting multiple backlinks by doing this. Google is much smarter than that. Besides, many forums don't pass PR through signature links via "nofollow" tags, or simply hide them from guest view anyhow.
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