It sounds good in principle. Produce a truly great piece of content, and you’ll get all the links you could ever hope for.
Maybe it worked too, several years ago. The Web used to be a fairly quiet place compared to what it is now, and it was easier for people to notice great blog posts.
But not anymore.
Now great is no longer good enough. The Web is full of so much remarkable content that bloggers don’t have enough time to read it all, much less link to it.
If you want links now, you need to be more than great. You need to be connected.

http://arthur-internetmarketing-guide.blogspot.com/2009/12/is-content-really-king.html#more