White hat link wheel

I posted this on DP without any response, so I hope to start a discussion here instad

I am planing to create a link wheel on blogger blogs.
I want to make this link wheel "white hat" and use my existing gmail account and adsense account. I have read the TOS for blogger and have not found anything specific about link wheels. I am planning to use unike and usful information on all blogs. I am not planing to use a "money site" to drive traffic to, but use a small amount of adsense on all blogs. Is there a risk for google to destroy my accounts if I have to many?
According to the blogger TOS this is what they see as a spam blog:

Spam takes several forms in Blogger, all of which can result in deletion of your account or blog. Some examples include creating blogs designed to drive traffic to your site or to move it up in search listings and posting comments on other people's blogs just to promote your site or product.

In a way a link wheel will move the pages up in search listings, but the way I see it is not manipulation if the blog have useful information...

Am I running a risk starting this link wheel?
(I know It will take a enormous amount of time to write content, but I am planing a long term approach)