If a link bomb is the same as google bombing....than i cant see that the search engines would be a huge fan of them. I dont have any proof, just from what i know about link bombs. A link bomb is a deliberate attempt to hijack a certain search phrase using link texts. As this is pretty blatant manipulation of the serps, i cant see how they would feel anything positive towards them.

Everyone remeber the link bomb for George W Bush a few years back? For a while if you searched Miserable failure, you'd get George Dubya's website. It was pretty funny, but i dont think you can find it like that any more.