Google Webmaster Guidelines: Keep the links on a given page to a reasonable number (fewer than 100). That’s it, obvious a page full of links, outgoing or ingoing, isn’t a good original content page. Google's bots read web pages from the topmost left corner of your page to the bottom right, so is more desirable to write the most important text in the left section of the page.
“The original reason we provided that recommendation is that Google used to index only about 100 kilobytes of a page. When we thought about how many links a page might reasonably have and still be under 100K, it seemed about right to recommend 100 links or so. If a page started to have more than that many links, there was a chance that the page would be so long that Google would truncate the page and wouldn’t index the entire page.” – from Matt Cutts blog
But what happened if you have a page with more than 100 links yet under 100Kb?
Take this blog for example, Make Money Business, it does have more than a hundred links, but the total weight of the site is around 80KB. Suppose now that you have a blog, if it happens that a post has more than a thousand words for example, and the home page shows the first 5 posts, you should reduce the post from 5 to 4 or 3 on the home, in order to not make the page too heavy. Same thing for the code of the scripts, you must always sacrifice something for something else more important.
How to check if Google spiders crawled all the page text? Well, you may search on Google for a brief section of text in the bottom right of your page, putting it between “” to found out if it is indexed or not. But there is no certainty that every line of what we wrote will be in Google’s search engine if the page is more than 100KB, even if recently Google indexes also pages by far bigger than 100KB does not mean that it will continue to do so.
“These days, Google will index more than 100K of a page, but there’s still a good reason to recommend keeping to under a hundred links or so: the user experience. If you’re showing well over 100 links per page, you could be overwhelming your users and giving them a bad experience. A page might look good to you until you put on your “user hat” and see what it looks like to a new visitor.” – still from Matt Cutts blog
In the end, it’s more important to preserve the weight of a page under 100KB then keeping the links below 100. This because if a page is truncated after a certain number of kilobytes you lose all your keywords, links or content damaging the search engine positioning for that lost materials. Both links and KB under 100 could be a great combination.