Dubious Links

Google defines link spam as "creating links to or from a site primarily for the purpose of manipulating search rankings". The old warnings about directories, comments, press releases and widgets are now written policy:

Practices in Google's link spam policy
Practice named as link spam Exception
Buying or selling links, including for free products Qualified with sponsored or nofollow
Excessive link exchanges; automated link building None
Optimized anchors in guest posts, advertorials, press releases None
Low-quality directory and bookmark sites None
Keyword-rich links in widgets or cross-site footers None
Optimized links in forum posts or signatures None