you can also use Open Site Explorer tool by SEOmoz.org. Check - http://www.opensiteexplorer.org/ I use this for some of my sites...
The best result you can get from back link watch. Its really a good practice to follow those links which your competitor follow.
Yep I prefer the link: thewbesiteyouwanttocheck.com in google. I find this rates those backlinks that are most valued
I use SEO SpyGlass, it's a down loadable piece of software which has some option you can use for free...
Just type site:yourcompeditorssite.com into yahoo or google...I prefer yahoo bank link checker to google...
two tool which i use yahoo show all links follow or nofollow and backlinkwach show you exact data like what anchor text that link have does that dofollow or nofollow and how many external links that page have i think it may help you
lots of link popularity tools has in world wide web...search link popularity tool..you can find lot of tools in google. you can know your competitor back link there. or search site:domainname.com in Google.com ...