"Out linking" your competitors is the most difficult, time consuming, single worst strategy (behind only, just sit and wait and maybe eventually they'll fall).
Whether he has 100,000 links pointed at the homepage.. Are they quality? How many high PR homepage links are there? How many high PR period?
You think a few GOOD links couldn't knock that high horse down? It could. Especially if you ensured your on site SEO is pristine, regularly add new optimized content, actively partake in social networking, etc.
Basic stuff. But instead of just blasting whatever Scrapebox returns to you, filter it down. Until you end up with only the highest quality back links possible. If you don't want to do that.. Pay somebody.
There's that high PR blog network floating around here somewhere, where for $97 you get 50 blog posts across something like 25 aged, high PR blogs. Do that, get homepage links. Get page roll links (links on the footer/sidebar of EVERY page of a good blog).
Don't just blast 200,000 links and hope that the ones you need to beat your competition are probably in there. Make sure you get them. Optimize your WEBSITE TO INCREASE THE VALUE OF THESE LINKS!!!!!!
100,000 links is nothing to be worried about. Do some keyword research on just about anything and watch what kinds of sites can outrank one plastered with 100K shit links.