Hey Alan,
Reducing footer links is certainly a good idea. Using lots of footer links is an outdated SEO Technique. Yes, adding text links is really a good and recommended thought!
It's not gonna affect your rankings. You can give links from other navigations like sidebar. If you are redesigning website, you must see this video of Rand: http://moz.com/blog/what-should-i-put-on-the-homepage-whiteboard-friday. It will help for sure!
Regards