I think you would have to be extremely unlucky to get a manual penalty from Google for link building these days, they don't need to issue them. Penguin 4.0 does a pretty good job of identifying patterns, if a link or links trigger the filter then they will be discounted. I think your site although more often pages of it can be demoted if you trigger the filter, I have seen that happen.
New sites really need to be careful with how quick they build links, and be very careful with the anchor text and ratio of the words used. If you have a well-established aged site with a strong link profile, then you could probably take a few more risks. It's very hard for new affiliates in this industry now, your just not going to rank for big keywords unless you buy links. If you look at the link profiles for some of the established sites ranking well, they all have a huge amount of paid links and must be spending $00,000 per month to maintain and increase those rankings.
"Many of life's failures are people who did not realize how close they were to success when they gave up"