Post-penguin, I'm now seeing that even with building very gradual, varied anchor text back links, your page will briefly rise in the serps and then drop below where it started. I'm really puzzled now. Can anyone report what is working for them? (Meaning the rise is continual and you've been watching it for several weeks). Thanks.
Pre-penguin, I had built a lot of backlinks using SEO articles and press release submission and was slowly rising up the serps. Post-penguin, the website has shot to page 1 and 2 for a variety of key phrases. I have continued to build backlinks using content (guest blogging, Squidoo, Hubpages etc), and it seems to be working.