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To understand long tail keywords you have to look at the niche market that your going after. If your in the printing industry like I am, everyone and there mother wants to be number one for printing, business card printing, brochure printing, etc. There are tons of billion dollar companies...

does anyone know if bit.ly is 301?

That is probably the purest and simplest way to look at Google's algorithm.

I personally am a big fan of Wordpress.org, because I can customize everything as much as I want to. There are obvious pro's and con's for both, Wordpress.com and Blogger are both free, but limited. It ll depends on the scope of your project, and how in depth you want your blogs to be.

Google always penalizes websites that are not built properly, so if I were you I would 301 everything that you need.

wow......What a bunch of assholes

This is awesome, thank you for posting this. I plan on committing all of it to memory!

You might want to take a look at the new update that tweetdeck put out, the newest version has an integrated even more with bit.ly

In theory that could potentially happen, but in all actuality it wont I think you will be fine.

Search for GreyWolf's post on Basic SEO practices for newbies, and Memorize it, there is a ton of information that can help you out.

Does it matter where my link is posted on a website, or will it have the same value anywhere?

Great post, I learned a ton of new stuff!

What are some good directories to submit my site to, either free or paid?

What do you guys think of SEO power suite?? http://www.link-assistant.com/ I've been using the free version for a couple of months now, and just purchased the actual software. I really like it, any thoughts??