The gurus latest "traffic trick" - telling you that anchored text is on the way out. Simply not true! Take "payday loans" for instance - or just simply "loans" - thousands of websites spam that single keyword and get great rankings!
Ordinary bloggers don't obsess over keywords and page rank and related ilk. Only the ones who have been duped into believing that blogging is "all about money" are being led around the web by their wallets (with gurus firmly gripping the opposite side of that purse).
If you ARE an obsessor, then begin each and every day searching Google and Bing for a new tool "Co-citation software" - I have included some handy links for you at the bottom of this post page.
As for abuse, those who practice exploting (including the same web gurus who will later sell you pdfs or software designed to fix the problem they created) will continue to do so, and will find new ways to trick and game any system that appears.
Google has been for some time now targeting keyword phrases to their commerical partners. It's all about money!
Here is what Google's Matt Cutts reveals about the method Google determines which text to use (this video is dated in some segments, but Cutts admits the decision on which text to use is on a query-by-query basis, still valid as of this publishing)
You might also like Not all Anchor Text is Created Equal.
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