My Answer:
Yes and No, depends!
It’s not my preferred method because most blogs use the nofollow tag on the links. That means the backlinks are useless for rankings in Google. But good still for Yahoo, Msn, etc.
But the thing is you have to find blogs without the nofollow tags – and post on those. That’s my suggestion, that’s what I would do.
I only focus on Google, the best search engines… so I prefer investing time on effective methods that will bring me the results I wish.
So if you are aiming to let’s say test out seo – how it will work for you, and maybe you want to use MSN for your test – to gain some experience – then yes commenting is great way. It’s fast and easy. Maybe fun too 
I would suggest you comment on blogs that are related to your niche – that way the backlinks you get will have more quality.
Obviously no spamming – not one line posts. Those get deleted most often.
For link back, I would also suggest to NOT put the link in the comment itself. Again because they may not approve your comment, they delete it.
Blogger blogs have the ability to post Name and Url, while commenting. There’s where you input the url… and maybe a keyword in the Name field. Keyword is very important – but again you have to be cautious. Just so you avoid getting the comment deleted. You want them to approve it. That’s your goal.
Work on good comments, maybe read the posts first before spraying some words in the comment section.
You can even outsource blog commenting if you wish. I like to mention outsourcing because REALLY, there are people who are willing to do almost everything for your money.
I once hired a lady to post on 300 blogs without the nofollow tag (email me for the list of blogs, which I used to sell for $5) for some $15. These are great blogs, high quality with all minimum pagerank of at least 3 up till pagerank of 7.
That’s cool, but to find those blogs it’s not easy… I have the list if you want them.
Please leave your comments.
Tags: Link Building
