Article marketing is still very effective. When you catch the attention of the reader he/she will come back for new ones and he/she can market it with others by telling that 'this is a very good site' just create unique and interesting article. Good luck for it!
I think article marketing is definately worth it - but you've got to have done your research, picked a good niche, written a solid optimized useful article, promoted and marketed that article really well, and have a highly converting landing page / sales page to send the traffic too. Francis
From an 'Off-Site' SEO point of view, yes Article Marketing is still going strong & should be a welcome component of anyone's marketing toolkit. However, it is becoming saturated with dulicate content & PLR's. The best thing to do is make sure you have a keyword-targeted (& rich) article with a minimum of 70% CopyScape uniqueness. This will put you in front of the majority of other article marketers who just nail jelly to the wall hoping it sticks. The key to any promotional strategy is to not just stick with one technique but a mixture of them. E.g.- Article marketing, press releases, video marketing, etc.