Jon_King - 6:32 pm on Oct 25, 2010 (gmt 0)

>>Remember most freely given editorial links are not that optimized

Link text that is... but, the "meaning" of the inferring page "passes" depending on those text "hints" we call anchor text.

The meaning of the page is a factor, the specific link text is a factor and the two combine within a larger context of the site and more to yield a ranking value.