I've always felt like the best way to get links is to create link worthy content that other authors want to link to. This has worked well for one of my blogs but not for the majority of my individual pages on sites like Hubpages. I'm almost certain that's because it's not a collection of pages but rather a single, one off article on a niche subject.
In some ways it seems like Google has declared war on sites like Hubpages or Squidoo, which thrive on the practice of inorganic backlinking.
Panda didn't affect me and so far I'm doing well with Penguin too, so I'm not overly worried.
I have posted answers with my link using level 3 and level 4 accounts and i have got lots of traffic and its really help me to get higher in search in google too. I think if you have a reputed account and post answer you will get good traffic
Yes these links are effective if we will create links according to rules of yahoo algorithm. Moreover SEO Experts in India provides you detail about SEO.
As everyone states, the backlinks will get scraped by other sites and will multiply over time. As for traffic, they rock. If you write decent answers you can convert some serious traffic, if you write shit, you will get shit traffic. GIGO
I think that you can get targeted traffic from Yahoo answers. If you are promoting affiliate products on your website, you can get good conversions with such a traffic. They will help in SEO as well.
Ya, krishna is def right in that using Yahoo Answers, it's a great way to generate targeted leads. Just make sure you mix up your answers with and without links so that you don't get flagged for spam.
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