I have also been looking into archive page templates and assume that just as an archive can be incorporated into a widget or within a template, you have done the same thing with your ‘blogroll’, therefore when you add somebody new (seemingly weekly, if not daily) then your page automatically updates?
The Link Manager still seems relatively solid and much of the infrastructure still works well, despite the warnings and lack of updates over the past several years. It would be nice to see it make a comeback and I can personally see many ways it could come back as a means of allowing people to better own their personal social graph as well as dovetail with readers. (This could also be the cornerstone of helping to make WordPress it’s own decentralized social network so that those who want to leave Facebook, Twitter, et al. could more easily do so and maintain their own data and infrastructure.)