Guys, just read Google's line on this. They simply advise to concentrate on building a well structured site with good content. Of course good content includes links to external sites, therefore it is a good thing. In turn, the better your site content, the more likely other websites will link to your pages and you will gain more one way links pointing to your site.
Here's a tip, if your site sells blue widgets, check Google to see which site ranks best for green widgets, contact the webmaster and ask for a link trade. Google will then boost you content score for linking to a site they also believe is good quality (of course they do, they rank it in 1st place) and you will get a good link back to you, as again, it's a site that google thinks is good and also matches your website theme.
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