Selected answers from the Dumb SEO Questions Facebook & G+ community.
David Ogletree: Not the way most people do it. If it is done correctly it can be. It can`t be automated. You have to leave real comments that engage in a conversation. You also won`t get much value directly from the list no. The real value is getting positive attention. That will lead to links.
Webado C Webada: Most blogs, if they are properly set up, will nofollow all links in comments, if the comments are allowed at all.
Assuming the comment and the link are relevant to what is being commented on (otherwise it is to be hoped the blog owner will reject the comment as spam), at best this could drive some traffic.
Do you guys think this still works as a strategy? (I don`t)
"And then I said, build links via blog commenting" 
