The main thing to remember about this site is that they only add craft specific sites. In other words, they don't want sites that throw in crafts here and there. They do accept blogs that talk about crafts and online shops that sell handmade craft items.
If you have a site that you'd like to advertise, Craft Link Exchange offers special rates to have a 125 x 125 square posted on the sidebars of their homepage. It's a great way to get your site seen my hundreds of people and possible customers.
But more than anything else, this is a great place to find new craft sites. As a crafter myself, I'm always looking for new places to get inspiration. Not to mention the fact that I love seeing all the cool things that other people make. I probably can't do it myself, but it's still fun to look.
So head on over and check out this site. It's a neat little place with lots of links and a lot of places you can exchange links with and bring new people to your own doorstep. :)