fishfinger - 11:18 pm on Aug 27, 2009 (gmt 0)

1. Are they really? Who said that and when?
2. A few months ago, I would have agreed with you. But reading lots of blog and forum posts and then asking myself questions gets my brain ticking over and gives me ideas. Yeah, there will always be smarter/better people out there than you, but you can still find something original to say. Add your voice to the discussion. I'm a self employed SEO and I have found some (I believe) original things to blog about even now.
3. General 'SEO friendly' ones for sure, but I've ranked businesses in niche markets and made them money with nothing BUT directory ilnks.
4. I've received so few link exchange request emails that I would consider. I have however given quite a few links to great sites that weren't even offering exchanges.
5. If you mean paid links: tried that and got burnt badly.

My own view is that link building (in any kind of competitive market) is a long-term process. You need to establish yourself as some kind of authority on a subject, and bring something original to the discussion on that subject. Then, by sharing your experience and opinions (whether on your site or others) you hopefully engage others to the extent that they will refer to that content.