I tend to take a little different view as I shoot for about an 80/20 rule. 80% of the anchor text I use will be an exact match for the keyword or phrase, while the remaining 20% will vary like above. Just my .02 for what works for me. YMMV.
Even though Hubpages and the like got hit in the Panda update, I still find that they offer an opportunity for links and traffic. Some of my hubs that survived the update even have PR now (although it's typically a PR 1 or 2). Another decent one to try is infobarrel.com. It's kind of a hubpage...
I always put any content I create or won on my own site or sites first, and then any secondary sites (article sites, web 2.0. etc. second. I usually wait for Google to crawl and index the content on my site before pushing it to any other location.
I try to focus on providing "decent" content of 500 or more words for starters, then focus on the on-page optimization aspects. If I were to break my activities down, I'd say it was something like this:
Content creation - 25% (unless outsourced)
On-page work - 15%
Link building - 60%
If the...
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