If you backlink to a blog network or article directory and obviously place you anchor text in the article, this will pass pagerank. Apparently, this would be against Google policy, or am I wrong?
So if you completely play by Google's rules, how would you rank a page for a specific keyword? I get that you would do on page SEO, but that doesn't seem to be enough. Ok, so let's say you advertise on other people's sites. Well, they are suppose to put a "no follow" attribute on the link. So...you are not getting PR from that?