i think a combination of all methods is the best idea
seo - joes methods - traffic trades - linkdumps
alexa makes me laugh - it doenst rank all traffic in - when my se traffic picked up so did my rankings but some sites who are ranked similarily have triple my overall traffic so i dont take that into account
if i have a newish site and someone wants too hard link trade with me then i will take into account their pr as i want to get a good pr for my new sites other than that i dont take it onboard for trading
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