It's a specific form of article marketing (using your content elsewhere to attract already-existing, highly targeted traffic to your site), Kevin.

The backlinks are very much a minor afterthought (though it's true they tend to be good ones, because guest posting is done on relevant sites).

These threads might help you ...

Guest posting
Guest Blogging: Is it good to post in top alexa ranked websites even if not in my niche?
Guest Blogging - How to Find Blogs
How Do You Guest Post?
Is there such a list of top 1000 guest blogging websites?
A question about guest blogging
Where would you send traffic from guestposts?

Have you seen this thread? It was right above yours.
http://www.warriorforum.com/main-int...10k-month.html

Guest posting is related to publish your content on other website/blog to gain traffic.

you right Cloutsoft

Hi Kevin
You should also check this video posted by Googles Matt Cutt (head of spam team). What is Google's view on guest blogging for links? - YouTube
You should think of guest posting as giving value and maybe get a link...and not the other way around Good luck!
Regards
Anders

Its about publishing a post in another blogger's blog to gain traffic, backlinks and some reputation.

Like article writing, guest posting is another alternative way to get credibility, exposure, and build trust. As you publish or post articles on Ezine, in the same way quest posting is best with quality content. You just have write fresh contents relevant to your niche. Don’t forget to add a Resource Box or author bio as this will show all the information about you and your company and further will help you to get connected with your readers or clients.