Blog commenting can be effective if your content or post is useful. However, it's not ideal since most blog commenting sites are moderated and can consume more time. Deleted comments could cause negative link velocity and may result to decrease in your site's rankings. Instead of spending time blog commenting, why not build authority by acquiring links from different high quality domains - web 2.0s, blog posts, HPBL, article directory, wiki, social bookmarking, video, document sharing, etc.