How to Optimize Image based website with no text Content?

Is it possible to rank high

[MrRoy]

Is it possible for websites that are image based and no text content to rank high in Google? I wonder whether doing only link exchange with relevant websites and having search engine friendly title and meta tags will do the work.
Any other techniques or tips?

[tedster]

Is it possible to rank? Yes.
Is it easy to rank? No.

It takes more than link "exchanges", it takes one-way inbound links with a good assortment of relevant link text. Links that only come from exchange relationships will likely not be valued as much as a one way.

Also, don't forget to include text in the alt attribute -- but keep it to a sane level, such as 6-8 words.

[Pico_Train]

Search engine friendly image names won't hurt either.

Use the alt, title, image name, meta tags and page names to help you as much as possible.

[Reid]

make sure you have a sitemap and you could also write a very strategic text-based whatsnew and aboutus page.