Most of the banner exchanges of which I am a member are for adult sites, and, unfortunately, too many of them that are not adult banner exchanges will have popups and other assorted annoyances tagged onto their exchange code.
http://www.showyoursite.com/?refid=3738 provides a 10:9 exchange ratio for free and does not use popups.
*Edit: they do have a tendency to use your email address liberally, so you might want to give them a throwaway.
I've never used them, but Horrorfind offers a banner exchange:
http://exchange.horrorfind.com/banner/http://www.gothex.com/ offers a free banner exchange for gothic and horror related sites. A 1:1 exchange ratio and 10,000 free credits to start.
http://www.rotolink.com/ offers a button and banner exchange program. They are a little slow to get new members approved, so sending them an email after signing up does help.
You can find lots of button exchanges and topsites on my site at
http://trafficclose.com/Have you tried out the SVBell banner exchange you sometimes advertise here?