Yes. But you have to follow below points for Blog commenting.
1. Use your real name for blog commenting. Don't use your keyword.
2. Submit comments in your niche or related blogs only.
3. Write your own comments. Don't just copy paste from other sources.
4. If you want to put a link, don't use keywords all time to put a link. Use your Brand/Company name or URL itself to get a link.
While commenting on blogs that are related to your target niche always keep in mind the following points:
1) You're not there to promote your own blog
2) You're there to provide a feedback to the author's post
3) Write comments related to that post
4) Never use your keyword in the "Name" field
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Agree with others in this topic. It is still a good backlinking method, but you have to follow some rules - like your real name and if you are puting links to your website you have to use your brand name.
Blog commenting is useful for commenting on people blog.you can increase your communication skills and learn more about new thoughts and ideas.It is very useful.you can getting back links from do follow blog commenting sites.
Blog commenting works, if you do it ethically. Don't just comment to promote your product or get link back. Always comment to provide feedback and add some value to the post you are commenting upon and of course your comment should be genuine.
Focus on your niche.
Always remember blog commenting not only add links to your link profile but also is a good source of referral visits of your site.
Blog commenting is definitely effective. Just make sure you have something beneficial to add to the comments and not something like: ''Hey, Great Post!'' or ''Keep it up!'' Read the author's article and express your opinion and/or experiences.