Update: Yesterday evening I created created 3415 comments with Scrapebox using autoapprove list.These are actual live links.
Today, this morning I checked the keywords "hemorrhoid symptoms" and found that it is now position 781. But again, the page which was being displayed in the search result has changed AGAIN!
I ran another Scrapebox list last night as well. I'm now checking links of 20k successful posts. I think there will be atleast 1k links from it.
Overall i'm quite happy with the results, we managed to reproduce what people see as a "penalty" in Google when they created too many backlinks. We learned that Google is switching the pages it ranks which could cause this to happen.
We will just have to wait and see if the site comes back strong and then the myth will be busted, at least for me.