Friending policy: I friend people whose livejournal stuff I find interesting. This is a matter of consistency more than of volume - posting ten times a day with one amusing thing is worse than posting twice a fortnight with one amusing thing. I don't do reciprocal friending. Interesting comments will inspire me to look at your journal, and if what's there is also interesting then you get added - otherwise you don't. It's quite simple.
I have friends who are not on my friend-list, and there are people on my friend-list who are not my friends. For me, it's not a friend-list, it's a reading list.
Given that my policy is so, obviously you can infer that I don't mind if you put me on your friend list - it means you want to read the things I write, and I'm fine with that or I wouldn't be writing them where people can see.