A newish term, named SEOicide, caught my attention via a WebmasterWorld thread. The thread discusses how an SEO has the opportunity to buy 70,000 links from a PR7 site for a great price. He asks if it he should do it.
Most everyone says, don't - you are setting yourself up for a penalty. In fact, words like SEOicide are being used to describe what you would do to yourself. But others are not convinced, they say, if the site will drive traffic to your site, then do it.
I would buy, if the direct traffic from those links brings you a profit. Otherwise it sounds very questionable a I would not sign any long term agreement/contract.
Anyway, back to the term SEOicide. I did some searching and it appears the Jane Copland of SEOmoz used the term on February 21st of this year in a comment on a blog post. So WebmasterWorld was not the first place it was used in writing.
Forum discussion at WebmasterWorld.