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Matt Cutts: Usually there is a pretty clear distinction between an occasional press blog versus someone who's doing a large scale paid link kind of thing," Cutts said. "If you're paying for links, it's more likely that it's an off-topic or an irrelevant blog post that doesn't really match the subject of the blog itself. It's more likely you will see keyword-rich anchor text and that sort of thing."
"It's more likely to be hopefully someone who's expert, there will usually be a paragraph about who the person is and why you invited them to be on your blog," Cutts said. "Hopefully the guest blogger isn't dropping keywords in their anchors nearly as much as these other sorts of methods of generating links."