It is a lot of effort and the sad part is most of it takes place without anyone ever seeing what has been done.
If we add a new bell or whistle, then the members see something has happened. If we submit another site map to a search engine, nobody ever knows about it.
The problem with trying to rely on one method is that the rules of the game are always changing. 16-18 months ago, submitting a site to link directories was a good plan. Now it appears there may be some penalty in using the link farms.
We just do what we can to make everything as keyword-rich as we can and then try to help steer the spiders to the keywords. One of my own sites is only about 6 weeks old and has ~1100 posts, but for one of our keywords, we're already #2 in the Google SERPs and #4 in the Yahoo SERPS. So some of these techniques I keep in my black bag are pretty effective.
However, as you pointed out, nothing can beat a load of inbound links.













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