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You still haven't given a context though. Which site is the link from/are you linking too, i.e. do you want to be associated with this site? In what way do you want to benefit - PR/Traffic/authority by osmosis? Getting a link from a page will directly increase your page's PR, whereas linking out won't. But it's feasible that you might get some repeat traffic just for that special outbound link you used because your visitors can't quite remember its URL to go there directly.
Even if we have the whole context, the question isn't a useful one anyway. Get links from the sites it makes sense to (not always in your control), and link to sites that your visitors will find useful.
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