Compromised diagonals and joseki 1
If White is free to extend alone the upper side, then the exchange of and is in principle good for White. For one thing, playing at is joseki (3-4 point high approach outside contact).
Given a black stone at (or at the marked point), the exchange / is some improvement for Black: it possibly makes White heavier. Black now at a leaves White's stones floating.
White's other natural resource is at here. There is a ladder question involved. In pro games may only be played when the ladder is good for Black: for example if White invades late and Black has some central influence.
A second ladder (Black at a) can occur if White rejects the chance to live small here after (with at ). This position comes from an Oteai game Yoda Norimoto-Komatsu Hideki (B) 1983-06-29.
BobMcGuigan I don't think I'd want to play in the first diagram above without some support to the right or, perhaps in a Chinese Opening type of situation, but I wondered how bad this move could be even if the ladders favor white.
For example, if things went as in the next diagram, it is clearly a bad result for Black since the marked stone is in the wrong place (it should be at a or b).
Andre Engels: I assume this is more or less equal, given that -- is a joseki, (although both a and b are clearly more common than ). The joseki is discussed in 3-4 point high approach, double contact, wall