@MstrBobDec 28.2005 — #1) It is not a javascript link. The link, in fact, is a standard link. However, if javascript is enabled, it will be triggered to open in a new window, just like the target attribute. The link, in fact, still works with Javascript disabled, and can still be picked up by search engines.
2)Target attribute was intended for frames, so use outside of it was considered abuse. In fact, it's still available in the Transitional DTD's, which is the DTD that's required when using HTML frames.
@felgallDec 28.2005 — #The idea is supposed to be that your visitors should be able to choose whether to open links in a new window. Not specifying a target gives them the choice by right clicking on the link and selecting where to open it. Specifying a target forces them to go back and close the window with your site in it after they decide to leave by clicking on the link.