I don’t mind link and fave exchanges (I need them actually), but I’ll probably skip the digg and stumble exchanges because they make me feel like a spammer.
I’m skipping RSS feed exchanges too. I’m neck-deep in feeds already, and I don’t see the point in subscribing to blogs that don’t consistently grab my interest. As a blogger, people subscribing to your feed makes you giddy, and knowing that some of those subscribers were “forced” takes out the fun. Besides, how can you keep track if someone you exchanged feed with really subscribed to your blog?