Whats is all the hype about web 2.0 and would you give up your website just because of it?...Here is the website I'm talking about.... www.mhwd.org is it worthless now?...Is it worth upgrading?
If you go by the Wikipedia definition of "web 2.0: http://en.wikipedia.org/wiki/Web_2.0
then the site you posted is a style that is becoming less utilized, however does not mean this site is any less useful because of web2.0
What is really hurting "relink" or "metalink" pages is the improvements and evolution of search engines such as Google and Bing/Livesearch. It is so much easier to punch in a few keywords and roll with the top few rated pages.
I like "metalink" pages myself. they are among my favorite research tools.
I took a look at that page.. I don't think it needs a ground up redo.. just a little moderate remodeling, perhaps. the links are up to date and unbroken.