am i right in thinkin?

alright guys, would i be right in thinking blog comment ******** links are still worth doing, or has google got on to link spam and penalise you for too many?
just thinking if i should continue to build links in such a way?
any constuctive comments welcome!

cheers in advance

Why not? If Google would penalize you for this I would go and destroy all my competition by posting a bunch of blog comments. Just make sure you build them gradually rather than doing 1000 one day and then 0 for the rest of the month.