Its a relief to see you explain this in such a mild tone, I dont know if I could have managed as much myself.
The simple fact is the running of the forum is a very serious business with very real implications for the people involved.
I recall early on when I first joined I raised this issue with you (I think I still have an old PM reply from yourself on the topic) you were happy for us to put up links.
Over time more and more users have started linking to their other websites and as Bill rightly points out this creates a good sharing/family type environment.
Your problem is you are responsible for the links people put up. Family/Open environment it may be, but if I went and put up a link to the nastiest Belgian porn site out there or Ben Hiding's latest terrorist Howto manual, you would be responsible for it. It'd be your door the Homeland security or pron cops come knocking on first.
As you rightly say, other sites charge for this privilege, but the down side there, You live in USA, I may be a Belgian Pedo or a Jihadi nutcase with a site to promote, I pay you/theforum $50 and now you're under contract to provide me with a service that's legal in my country but seriously illegal in your country.
Reciprocal links with no obligation on Nafex to tolerate an offensive link of any kind, to me seems a good compromise between a total free for all (that's impossible to police) or total lockdown(in which no-one benefits).
It specifically doesnt commercialise the placement of links, if anything I'd say it fosters even more of a family/comunity spirit by allowing us to share our websites with others and help promote everyone's sites in the process.
As long as you keep your shirt on, I dont mind if my twitching fingers serve to scratch your itching back. Dont do other blokes skin