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Which goes back to the BASIC SEO principals, do whats right and tried, true methods and not the GIMMICKY stuff and you will still come out ahead eventually!
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Amen!
No matter how many times people say - but it's working, etc etc - if it's NOT the right thing and the good thing for your customers, the se's are going to find it and take away the credit for it.
Now, as Karen stated, it's still a good thing - as you can get traffic from it - just as having GOOD link exchanges bring me traffic and sales, even though they don't get "credit" for inbound links the same - or at all - so they are still good to have. But, if the only reason something is being done is to get rank or to "fool" se's - it will eventually backfire.