Is this an easy keyphrase to rank for?

I'm very new to IM and SEO, and just looking for a second affiliate product to promote. Ive spent a few hours researching all the different keyphrases for a few products, and have a few good ones (I think). This one in particular I'm really not sure about however:

Its a three word keyphrase, all major words (no words like to, the, ect) and has a 27,000 global searches monthly.

When i use allintitle:xxx xxx xxx I get only 1,100 competing websites. However, the top few results in google are all sub-pages of major commercial websites with PR 5-7. None have just the three word keyphrase ive chosen as their title, its mixed in with other stuff.
interestingly they all have very low backlinks, less than 15 each from backlinkwatch.com, but appear to be very high quality.

The first homepage ranked has about 650 backlinks in about 5th spot.

When i search for just my three word keyphrase without quotes, i get about 23 million results, but with much the same sites occupying the top spots.

If i optimised my site just for this keyphrase, got maybe 600 backlinks to my site, with a linkwheel with 2-300 to each site in the wheel, is it likely I could place in the top 3 for a search for my keyphrase without quotes? Or should i look for another keyphrase?

It looks like you have spied out your niche well. One thing though - when you checked for the traffic, did you set adwords to exact mode and put the keyword in [square brackets]? Hopefully you did, as broad mode is unreliable.

Major commercial website subpage authority tends to make up for their general lack of backlinks. It's a common scenario to find these sites hogging the top spots, amazon, nextag, newegg etc. Don't be demoralised, they can be beaten. You will just have to work that little bit harder.

Use all the tactics at your disposal but don't be reckless. Building up backlinks in the numbers you are talking about in less than 6 weeks will raise a red flag at big G if your domain is new.

Also, why put all your eggs in one basket? Diversify and find other niches to tackle simultaneously. There are some real easy ones out there

Good Luck

Cool, thanks for the reply. Decided on a different, less competitive keyphrase in the end (I think - haha). Once i get ranked for that I'll try for some better ones.