Hi, Is an image (with Alt text) linking to your website, the same value as a normal text link with anchor text?
True! But if you can still achieve great results if your image is really popular. There are many sites ranking in the top ten position for competitive keywords because thousands of webmaster have used their widget/image/bagde/etc.
I find it helps mostly with Google Image or that type of SE feature. It will still provide a valid backlink though, just not be worth as much.