Both are important what are you posting and where are you posting. If you posting unique or quality content on niche site then definitely you will get result.
When we use only one keyword every place like in every posting we are linking only one keyword and place every time this then we call it Google Bombing.
Arthur i am agree with you blog commenting was a good way for traffic but these days its not more useful visitor come for this way but these all are junk traffic. Many other way are available here to getting traffic.
I think some time black hat technique can be beneficial for site if it is limited. I have also break some google rules and got a good result. But it should be carefully because it can be ban your site.
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