Yes it definitely can especially in today's SEO.
If you can do this manually, you will get result.
Original Content (For example, if you are an SEO person and you write the type of content seomoz has on their site, it will get picked up so easily whether article marketing, web 2.0, e.t.c)
High Pr Article directory
Web 2.0
Press release
Blogging
Doc Sharing
Manual Blog Comment
Video marketing
Private High PR Network.
Do a link pyramid once a month with 5 web 2.0, 20 popular bookmarking and 100 manual blog comments.
Just mix them up and be creative..