A competitor of mine who has been hovering around 8th-12th place in serps across the board has suddenly jumped to top 3 for most of our related keywords. What's of interest is that his/her pages are essentially a list of links, all leading to other pages, that tell visitors about widgets for sale.
If there are 500 of that type of widget for sale the pages have 500 links on them. One page had well over 1000 links on it yet still ranked #1 for the keyword.
As far as ranking goes it would seem that number of links on a page that lead to other pages on the same tld no longer 'weigh down' the page as they once did. The proof is in the pudding and this competitor only has link flavor. The number of words which are not a link on the page can be counted on your fingers.