I have a very interesting ranking/traffic problem. I currently have a blog ranking in the middle of the third page (SERP) for a 200k exact search term (both local and global). If you isolate just USA it comes out to 150-ish k (local monthly search). The term is very popular and is not dependant on seasonality or anything like that. I have webmaster tools enabled and i am barely getting any impressions. And there is barely any traffic coming in. The site is ranking i have checked it from many different places and webmaster tools is also showing the correct average position for the term. The only thing I can think of is that people do not get to the third page that much. The problem with that theory is that I have had in the past other sites on the same position that get plenty of impression and traffic.