Read [webmasterworld.com...] . It will help you tie the basics of SEO into an effective strategy.
Then step away from the computer :) I recommend reading Tested Advertising Methods by John Caples, just about anything by Seth Godin, The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell, and Taking your Talent to the Web by Jeffrey Zeldman.
It occurred to me after reading that article, that one of the main reasons I keep coming back to WebmasterWorld is to get a better grasp of how to SEO, which I'm currently lousy at.
One thing he failed to mention in that article is patience and persistence. When I first started seriously looking into SEO, I realised almost all of my initial assumptions were wrong, and that I had a long, long way to go.
But its because of people like him, and Brett_Tabke (who's post here was mentioned in that article, and I've already read several times), that its even possible for me to get the information I'm looking for.
So, a general thanks goes out to everyone who doesn't hoard the knowledge and skills, but are willing to share it with the people who want to take the time to learn it.