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I have seens sites with far less backlinks and still rank well.
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It all depends on anchor text and the
quality of those links, not just the
quantity. Yahoo.com has
hundreds of thousands of backlinks yet my sites outrank them for literally thousands of search terms.
A page with 1000 backlinks all with a cryptic URL as the anchor text will rank lower than a page with 10 high quality backlinks with the search term in the anchor text.