OK, this is what I see. This should've been a fairly easy one (for only 178 exact searches) to get a descent SERP, but a couple of things. You'll notice plenty of green squares, that a good sign..but..
the #10 URL (mixx.com/stories) Even though is has 0 PR and 0 backlinks, someone optimized the Title|URL|Desc|Head for the keyword "slanking"
#9 URL (slankingogkosthold.com) PR 2 with 273 backlinks. Tricky.
The others above it DO have backlinks...until you get to:
#3 URL (ung.no/slanking) PR 5 with 51 backlinks. Ouch. Normally you'd never clear a PR 5 unless your URL is optimized for the keyword...thus..
#1 URL (slanking.org) This is the only way you'll tend to beat a PR 5 site..have your URL optimized right on the money.
So...unless you've got the site slanking.com or slanking.net, you ain't gonna jump over #3. Since you've only getting 178 EXACT searches for slanking, the #1 spot will be getting most of them, if you're floating around spot #5-6 you'd just get a tiny fraction of that.
It also shows AWA at 0. (Adword Ads) You're not even THINKING of putting adsense on this site, right?
If this keyword was getting something like 500-1000 exact searches, I'd be all over it. I'd be happy with spot #5 or 6. As it stands...eh.
Anyone else interpret this differently?