Link Building Terminology

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I'm trying to build a link pyramid right now and I have read through some tutorials. I understand the concept of it but I am not sure how I am supposed to do it practically.

What I've done so far is that I have set up a couple of Web 2.0 sites as my tier 1 (Blogger, Wordpress, Tumblr), added some pages, articles etc and linked it to my main site with keywords as anchor text. My first question is:

1) Do I have to update it regularly and treat it like a real blog, or do I just leave it there and try to rank it?

Besides Web 2.0, the tutorials also mentioned other methods for building links, mainly for tier 2 and 3. but I have hard time understanding them.

2) What's the point of blog commenting? Pretty much all the links there are nofollow.

3) What do people mean by building links through "wiki" sites? Wikipedia? Wikia?

4) When people build links through articles, do they mean they have an individual site with a unique article, an article in a directory or hubpage/squidoo?

5) What's a press release? I mean I know what a press release is, but what does it mean in SEO?

6) My sixth question is related to my first. Do I have to update the lower tier sites with new contents regularly or do I just build them and leave it?
#building #link #terminology

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