Link building is one of the most important aspects of ongoing search engine optimization. As websites gain links from other well-linked sites, their inbound link rating goes up. This is of course a very simplified explanation of the link-specific part of any search engine algorithm, but it essentially describes what Google PageRank is supposed to do. The problem is that if you focus only on PageRank, you may not be getting the links that will help you garner "authority" or "hub" status. Some SEO practitioners actually claim they completely ignore PageRank.
So if you want to rate sites based on their ability to help yours with a link, how else can you do it? Bob Mutch has started threads at SEW and Cre8asite formally introducing his latest methodology for ranking sites based on their own inbound link quality, or ILQ as he calls it for short. He has been playing with this idea for the last couple of months, and now wishes to get some feedback.
In my opinion, it is a sound system, giving greater value to links that are from known trusted URL's or Top Level Domains. I imagine the discussions to follow this announcement will be lively, so make sure you stop by and voice your opinions at Search Engine Watch Forums and Cre8asite Forums. (Probably others too)