I can tell you some things that i do and some things i dont do! It really depends on preferences!
1. Dont ping! Waste of time (you can do other things at that time). In additiion, imagine a blog/website that its like 1-2months old. You create 1000 backlinks in one day and you ping them all. Thats not a red flag, thats a red g-string...dont do it

2. When i start building links for a website i want two things. A list of many crappy blogs and a list of good blogs that will pass good link juice and i also want numbers. You cant 10000 backlinks from PR4-5 and above in 2 months though (that will stick too) at least if you have other things to do apart from using sb.
-So get a list of scrapped blogs that are related to your theme. Get Everything that has 4-5 PR or above and leave nice comments on them.Dont bother if you see no comments or no outbound links(use SB plugins to check these things too)
-Have a big master file with crappy spammed blogs(they still give power and link juice) and post generic comments using faster commenting function.
-Scrape some high PR forums and use imacros or whatever to make a profile.
- When you feel bored about getting nofollow backlinks, start posting to **************** blogengine! There are some good ones!
Repeat everytime you have free time and update your website. Backlinks=votes. If your website is not updated and its not that good, you should not get backlinks (natural ones) in the first place.