I've worked with certain people who have informed me that incoming links are probably the best way to get yourself atop the search engine results. It makes sense, really, the more popular you are the higher your ranking. However, I have seen/heard that the more popular the sites are that link you, the better that improvement is. Just food for thought, and could be completely useless after the next Google dance.
Blog comments, trackbacks, technorati links, etc are quick and easy ways to get some traffic. Just don't spam your link without a darn good reason or you're likely to garner some hatred across the tubes.
If you're selling a product, however, I've heard good things about Google Ad Words as well as Yahoo's ad network. I used to work at a place who worked on/hosted a shoe store and all of their advertising was done through ad words and word of mouth, and they pushed $300k in orders in a single day.
Really though, you have to target the audience with the marketing. That's the key.