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Although it is a roundabout way of getting links, it is a very good way to build them naturally. For multiple sites of mine, all I've done besides directory submission was write 2-3 articles and submit them to about 25 of the top article sites. I build niche sites with lower than average competition and this seems to suffice. I rank well in yahoo, msn, and eventually google. I've got relevant backlinks, that are for the most part, natural - due to article submission.
There are a few things you have to consider:
When writing an article, make sure it's unique, has good grammar, flows well, etc. Make sure that your article makes you an authority on whatever it is that you're talking about. No one wants to read an article from someone who lacks confidence. They want to learn, they want to know that you know what you're talking about.
Your links that are on these articles may it be in the footer or embedded, although may not use the exact anchor text or keyword you're trying to rank for, will still definitely help you. The page's content can be read and the relevancy to your topic can be determined (LSI) which will make your link, regardless if it says "click here", or "www.bluespeakerwire.com", a good one.
Also, when submitting to sites, don't focus on PR or anything to that effect. Focus on circulation and how many people syndicate articles from their sites. Sites like articlecity, findarticles, etc, those are great.
Who has time for this you say? Well I sure as heck don't and I'm obviously not an English professor. I do have a few writers that charge me about $1.50 for every 100 words, which means I can have 350-400 word articles written for about $5.00. I would rate their grammar about a 9/10, the originality (which has been checked for plagarism) a 10/10, and the speed of their work about a 9/10. I also pay these guys to submit to the top article sites of my choice. I love it and I'm not changing my methods anytime in the near future.
Sayonara.
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