Forums are really great place to get more knowledge, for me your started discussion is one of new tools that i have learned, and here is what I found: "Creating a link wheel is a very effective SEO strategy that can be used by anyone to improve the rankings of their sites. Essentially, a link wheel leverages the power of highly ranked Web 2.0 sites to build targeted backlinks back to your sites. This works because certain Web 2.0 properties like Hubpages, Squidoo, WordPress, and others allow you to publish your own content on these sites AND allow you to add your own backlinks to this content as well. Google loves these sites and often times your posted content can rank very well on their own. Getting links to your own site from 5-10 of these types of sites is very powerful, and forms the basis of the link wheel strategy." hope this info could be useful for you!
Here's a picture of what a link wheel is: http://www.submitedge.com/graphic_large.jpg Basically, create a bunch of social media, article site, press release site links. These should all link back to the site you are trying to make rank, plus they link to each other sequentially in a circle. You'll also ping the RSS feeds for all of these sites, to try and get them indexed faster. The idea is to build up some stronger back links by building up backlinks to those pages. I don't think it's a great idea honestly. All of those sites are low grade, and the pattern of a link wheel should be pretty obvious to an search engine operator - not so much from how the sites are linked together - but rather, by generating a large number of these social media profile site links back to your site quickly. Still, for a short time, it will probably give you a boost.