rish3 - 10:33 pm on Jul 15, 2013 (gmt 0) [edited by: Robert_Charlton at 5:30 am (utc) on Jul 16, 2013]
Search google for "leasreepressmm" for an interesting counterpoint that shows that perhaps press release backlinks do have SEO value.
Now, being that it's a made up word, it doesn't show you how much value, but it's clearly more than zero.
Mod's note: For those who are wondering, the made-up word, "leasreepressmm", is the word used in test discussed in the SearchEngineLand article that jimsthoughts mentions about five posts up.
[edited by: Robert_Charlton at 5:30 am (utc) on Jul 16, 2013]