A forum friend notified me of a new site he has created at www.contentrelay.com . He describes it by saying:

Content Relay enables webmasters to provide written content to other webmasters for the purpose of link building.
So basically you can contact another member and offer them content to publish on their website. The idea is you include a link in your content so you get a one-way, good quality backlink using your chosen anchor text. The webmaster who publishes the content/article gets more quality content to add to their site and you also get a good quality link, a fair exchange I'd say - everyone's a winner!

This is similar to distributing articles, but because you contact individual webmasters you have control over who publishes your content/article and you can also change the content for each exchange, so that you avoid the duplicate content pitfall that you might get from article submissions - ensuring you get full potential from the links.
The focus for this site is on QUALITY exchanges, not quantity. With rumour going around that Google are clamping down on reciprocal linking from link pages/farms/directories then this is an ideal solution. A one-way link generated using a content exchange might be worth 10 or 15 reciprocal links from link pages, so time spent on a content exchange is well worth it.

The webmaster who receives the content request has the final say on whether to accept the exchange, so this encourages the submitter to write something useful to ensure their content is accepted. Anyways, the site is totally free (and always will be) so feel free to signup and check it out.

Sounds like an interesting concept to me, and it might be the perfect way generate relevant content and get relevant links as well. Might be worth a look-see. 🙂