Anchor text is important because it helps your site to get a better position on that particular keyword on search engine results.
YES/NO Yes it's important but so is balancing it out with URL based links. You don't want you're most popular anchor to be your main keyword - especially if you're in it for the longterm.
Some good points raised. I think Google will start to look more at the whole back-link profile rather than putting too much weight on the anchor text. Having said that - Anchor Text is still having a major impact on rankings!
Links with targetted anchor text can help improve your serps with in turn equals search better traffic.
Anchored text is extremely important. But, don't overdo it. Or, it might considered as link spamming. You might get penalty for it and it may remove your site from the keyword totally. I'm one of the victim here.