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And always, keep it simple!
I repeat, keep the pages simple. Minimalist. No gimmicks, no visitor counters, no animated GIFs for the sake of them, no scrolling messages in the browser, no messing with browser settings.
[edited by: Matt_Probert at 2:42 pm (utc) on Jan. 25, 2007]
You still want enough content to let the page be found using a variety of relevant terms.
I have just been through an exercise of replacing large pages with sets of smaller pages and it seems to have paid off although in a few cases the search engines seem to end up on the wrong page.
I run sites that have a maximum of 500 words content per page, others on which I average on 800 to 1000.
Divide your content in a way that feels natural. For some topics short articles are appropriate, for others not.