tedster - 3:49 pm on Feb 15, 2011 (gmt 0)
I see sites in a very competitive niche ranking very well off of low-quality links from abandoned blogs.
I would like to emphasize again that these links seem to have been paid for and intentionally allowed by the site owners. So this isn't a case of parasite hosting on truly abandoned websites. That's an important distinction. Paid link do not break any law - but hacking into a server does.