I don't wish to post anything to long here, frankly I don't have the time, but this is an interesting subject.
RE: 300 websites, 300 links - this would be classed as a link farm and if were served by the same hosting company the IP addresses would tell the story.
About
PR. The theme is pretty important, of those sites which are linking back to you. What is also important is the number of links on the page which includes your link. Also, where abouts it is on the page - top being much better than bottom.
I, like Carl, have spent many many hours learning about
SEO and I feel I know just about everything there is to know about google, for what I want to do. I've found the google newsgroup most valuable in all of this, as well as the google toolbar.
Just to run some stats by you for rewardsites. I achieved a
PR of 6 in 5 months on Google and only have 22 back links. Now, if back links are the main part of google's algorithm........how did I achieve a PR6?
I think I know how - and before I tell you my 'secret' or two (in other words, my guess), does anyone else have any ideas?
Cheers,