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It's not a bad idea, but I think your numbers are bogus.
Let's say that your site has pretty good quality traffic. At a minimum, I would need to get 1,000 hits back from you in order to make it worth my time. I have to rack up 1,000 points to get 50 visits, so I need to rack up 20,000 to get 1,000 visits. That means I have to get people to click on 20,000 of your links or get 4,000 people to submit links to you or some combination thereof. That's a whole lot of work for 1,000 hits back and really not much incentive for me to send you traffic/webmasters.
SpaceAce
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