>> "characteristics of links" what does that mean
Eh, go read everything Bill Slawski ever wrote
A few I can think of :
TrustRank (TR) of the donor page, TR of the recipient page(s) (remember, co-citation data is your friend)
Difference in term vectors of donor and recipient page(s)
Difference in term vectors of donor page and anchor text
Text surrounding anchor element
Average lifespan of links from donor site
Average lifespan of links to recipient site
Position of link in code
Time since this link, specifically, was discovered
Was link present during the first fetch of this page?
Has link target ever changed?
If so, to a different URL on the same target domain, or to another domain?
Has anchor text ever changed?
Is donor site linked directly, or indirectly, with known link buying activity?
Is link reciprocated?
Are the ownership of recipient and donor site identical (may be determined heuristically, or by matching WHOIS records, for example)?
Some of these are more important, some less so, but the specifics probably vary quite a bit from vertical to vertical anyway. One of those things you pretty much have to work out on a case by case basis. I'm sure there's plenty not on that list too
>> I can't help but think there is a message in there somewhere...
"Don't buy expired domains for the PR any more"