Recently google on their famous webmaster blogs reconfirms the age old authority of the content. The blog says and promotes creation of a unique and compelling content . It further promotes creating audience around it by way of blogging & other web 2.0 activities. It states to offer free advise / knowledge to the community.
It further comments on merit based linking rather than simply linking. Further link checking & 301 redirect seems to be good. Maile Ohye , further seems to end up debate of 301 redirects, as google find favours with the 301-redirect. It further explains that with 301 redirect can be used to transfer page rank of old pages.
You can further check the Maile’s article here