Some high-level questions to consider:

* Is it run only when a build of the docs is started?  Or should it be done regularly (daily/weekly?) to keep an eye on links so that it's not a surprise when build time comes along?

* Does a broken link stop the build, or is it just advisory?

* Who sees the results?  Are they emailed to someone?  A mailing list?  Posted somewhere publicly?

* Is someone assigned responsibility for acting on the failures?

* What counts as a failure?  Is a 301 redirect OK?  It seems that a 301 might be OK to pass, but someone should know about it to update to the new URL.

I am not familiar with the current documentation build process, so forgive me if these are already answered somehow.  I'm not looking for answers myself, but providing suggestions.