The active blogs are still helpful in providing quality links to any site as Google keep a count on every link of an active blog.
However the question may arises in mind that where to get the right blog and do some writing then post it with back links and after doing that much efforts wait for the approval of the content.
I had a recent idea about this and I would like to share it with my fellows, may be that could be very helpful in yielding some better results like getting more backlinks to your site, affiliate marketing, click bank and other products promotion etc.
The idea is that if we could spend a little money on getting our own simple blog and then populate it with some content by outsourcing it to someone or making it public that everyone can post their content directly onto it.
You can still be able to put links either in the comments and any other place on the blog, and yes! every single link will be counted by the search engine and google also. The other thing is that you can also use it for other marketing promotions.
The total investment may be not more than 100 - 150 $ including costs of blog hosting and domain, may be this amount can cover some of the cost of the content.
This is my idea, please let me know your thoughts. Cheers :)