A panel of well known bloggers and seo (including Shana Albert, SexySEO, Rand Fiskin, Aaron Wall, Ruud Hein, Tim Nash, Bill Hartzer, Lyndon Antcliff, SebastianX, Jim Boykin, Andy Beard, Barry Welford, John Carcutt, Bill Slawski, Wiep Knoll, Matt Rideout, Brian Turner, Hobo) Give Their Views on keyword density as a metric in seo.
Thanks for the link. I have my own beliefs about it, but It's good to read others. <edit> It's a fantastic read, especially with the other links that are mentioned in the interview!