Blogroll Linking Tips
Unless you are putting NOFOLLOW on those outgoing blogroll links then it's a waste of time putting so many websites linking out from your site. You DO NOT want all those outgoing links all through your site leeching away your PageRank. Of course that presupposes you plan to get this blog to generate PageRank anyway - or if it already has PageRank as it is.
Regardless, you can certainly put how ever many sites on your blogroll you want, but for best results, you should limit that number to 10-12 MAX. Otherwise, your site is just another low-quality, crappy blog that links out to everyone. Is that what you want to communicate to your site audience?
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