Hmmm. So I guess if another site links to mine using an image, there is no way to include some sort of anchor text.
12:00 am on May 3, 2003 (gmt 0)
If you read on in that post i believe it is determined that ALT text DOES count as anchor text when used with an image WITH a link. They are saying ALT text DOES NOT count for on page optimization if the image has no link (ie stuffing every image on your page with alt text)..