I have an article about that here http://www.sourcer.org/edu-get-backlinks-list I hope it will help you
The basic principle is that a link from CNN is better than a link from some free directory. How to get them is another matter. You need to have an amazing website before any true authority would consider linking to you.
Well authority links are links from sites that been around for a while. Have a lot of traffic and back links and decent pagerank. We do have some sites that are available, pm me or take a look at my site if you are interested.
Here is also an interesting article from JimBoykin.. http://www.jimboykin.com/site-backlinks/ about this topic, building backlinks to your website.
I've found that authority links are often out of your reach until you start showing promise of becoming an authority in your niche yourself.
Not really, take a look on text-link-ads.. theres websites such as answers.com, newsweekshowcase and more
Out of interest, how much are newsweekshowcase charging per month for text links? (I couldn't find it on text link ads)
I'm paying below $100 for PR7 link in my niche, and for relevant link on answers.com it's suprisingly cheap
True, if you want to get those links naturally, but I guess you can always purchase some authority links.
That's the overall authority of the site, but how about topical? Let say you want to promote "free directory" Would a directory that has thousand of link with anchor "free directory" point to it has more authority than CNN on "free directory"?
More relevance yes but not more authority. Authority is not as topic sensitive as you might think. CNN is an authority and passes trust whether its relevant to your site or not. Of course any true authority won't link to a site unless the site is related to the article so you always get a relevant link.
I discovered just yesterday that an article on my site has been linked to from the 'Time' magazine website. Unfortunately, although their homepage is a PR 8 the page my link is on is a PR 0, lol. Still, it's better than a poke in the eye with a sharp stick.