So what is the best method for trading blog links?
 

Doing it the old fashioned way and contacting blog owners to ask for a link trade? Is there an easier way to get on lots of blogrolls?

Craig's List?

I would suggest trial and error, launch multiple sites, use a different method for each, and then see which method brings the best results. You can submit to directories, email blog owners, use thunderball, etc.

Any links to some good adult blog directories?

Do a search, I know Abyss_Al just started a thread about one.