SEO ranking for dynamic landing pages

OK im no pro so i really would love some input from you guys on this idea i have had....

Basically i have been playing around with Speed PPC for a ppc campaign. In it it allows you to make pages tailored to your keyword. So you change the url and it will create a page with your keyword in it. you might create pages with "ipod touch" "ipad" "iphone 4" just by changing the url to your keyword. In that page it might have your keyword as the title, h1...h2...image alt tags, text, whatever.

My idea is this... create thousands of these dynamic pages (i think thats what you would call them) with low competition but some monthly searches.

Then you could use the link-lock feature in scrapebox or xrumer to blast anchortext keywords to dynamically created pages of the same keyword.....

So you would have backlinks with anchortext "ipod touch" point to a page relavent to "ipod touch" etc.

Has anyone tried this? It seams like an obvious (maybe even too simple) way to rank for thousands of low competition keywords, have many pages indexed and have masses of tiny trickles of traffic......

Anyone tried it or have any opinions on this?

GB

i read some in a thread. I think it was called "how many sites do you own" or something. Harro said he has like 15000 sites maybe this is what he does. This is something that just popped into my head. could be wrong though