I normally like to use web 2.0 sites to get link wheels built around my money site, and I've found that they have a decent impact on my ranking. I've just started using the web 2.0 profiles a bit more after making a mistake with them a few months ago and posting the wrong link for the wrong keyword phrase. The web 2.0 profiles were so powerful that they got me ranked 7th for a decently competitive keyword phrase on the wrong page of my site (keyword was meant for page a, page b got backlinks and thus was ranked well for the keyword phrase.)
When using the web 2.0 profiles I like to add in lots of different variations of the keyword phrase that I am targeting (15-20 if possible) and spin the anchor text. This helps create a bit more of a natural link profile and allows me to rank well for some long tail phrases with very little work.
Like Martillo I like to use SENuke X to get both of these built as it makes everything really quick and easy, just set it and forget it.