Welcome to the Q&A Forum

Hi Mike,

I'd personally say that you're fine, depending how you impliment it.

I personally believe that as long as the text that you add reads what the image contains, you're fine.

SEOmoz even use image replacement!

Good luck!

Hi Rob,

I personally use a tool called Xenu to identify broken links. Give it a whirl yourself, it's free:

http://home.snafu.de/tilman/xenulink.html

Good luck!