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For me works only quality links. One good linking site seems to be enough to start ranking. Sites with no content seems to be penalized (panda). But I see many tubes with no video descriptions ranking very well, so I don't know... anyway 50 words+ is enough, but the more the better. I saw one blog that have at least 400 words per article and it rank like a charm (according to alexa, under 25k). I have also find out that text on homepage impact one of my sites' ranking a lot.
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