I've been promoting a website with the use of wordpress comments to building in-bound links and to drive traffic. Each comment I leave on other blogs uses the name "Mom" which works as the anchor text on Wordpress. At this time, the site currently has 2400+ links coming in according to Yahoo, many of which are in fact "no follow" links. What is most interesting is that when I search for the URL of the site in Yahoo, the search engine does not use the title that I have set for the blog, instead, in the blue hyperlink on the SERPs, you see the word "Mom." The search engine has assumed this is the page title, I guess, due to the number of links with this anchor text. I don't know how important, or relevant, this may be to your own SEO, but I found it quite interesting.
Ya its not a new algo. You can do this magic with the help of directory submission if the admin of directory allow short title. For yahoo, off-page even from blog comments and directories are possible.