Popular SEO wisdom these days is that time spent removing bad links might be better spent building good ones. The thought is that since good links are worth more long term, that’s where the time/money should be spent.
This might come as surprise to SEOs who thought that Google’s Disavow Links Tool was the answer to their post-Penguin dreams. But even Matt Cutts suggests using the Tool conservatively and keep pushing for quality links, preferably through guest blogging at authority sites.