Link Checker is designed to crawl though your blog, verifying that the links you’ve linked to are still there.
So, the results?
Took about 10 minutes to scan 2385 links, which seems ok.
Now you can leave the plugin Activated, and every 72 hours (default), when you login to the Admin panel, it will run. I’m going to de-activate it, and only run it every couple of weeks.
* first heard it while looking at Pelf Nyok’s “Pelf-ism is contagious” blog.