<?php $link = get_post_meta($post->ID, "new_link", true);?>
<h3 id="post-<?php the_ID(); ?>"><a href="<?php echo $link; ?>" rel="bookmark" title="Permanent Link: <?php the_title(); ?>"><?php the_title(); ?></a></h3>
<?php echo '<a href="'.$link.'" ><img class="aligncenter" src="'.$portfolio_image_small.'" alt="" /></a>';