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Ok now I know this isnt exactly the best example but I found this interesting..
I was looking up Lonely Island videos and was listening to the video the creep and decided to look at it's tags.. None of the tags matched my search "lonely island the creep" but the video came up number one overall.

I decided to do a quick search on some of the tags just for the hell of it and found a video outranking the lonely island video but this video had none of the tags like the lonely island video but was outranking it when the Lonely Island video has over 14 million views in 2 months. The video however did have the words in the description. I am sure tags are some what important in the overall scheme of things but I think this shows your keywords in the description box are far more important then in the tags. I know it is a really weird example, please don't flame on me for the post I just wanted to post it to get peoples opinions about it. This doesn't mean to stop using tags USE them but what do you guys think of this. I included s shots.

1st Screenshot = Search "lonely island the creep" along with the videos description and tags.
2nd Screenshot = Search result for some of the viral videos tags.
3rd Screenshot = Video outranking viral video for its tags with 0 of the same tags as the video, along with the videos description and tags.

Again I know this is a bit of an odd post and I am not saying tags have no importance, I just found this interesting please don't flame I would like to hear BHWs opinion about this though. (Viral video tags being outranked by regular video with none of the tags but keyword in description)

Man, I have to say that tags are very important. Just do some tests and you will see. I ranked on a very competitive keyword , only because I had the tags. Tried to rank on the same keyword with no tags , but the description stuffed with the keyword and related keywords and guess what ... I ranked on second page .