There are 2 distinct factors involved when it comes to search engines and their algorithms,
1. Onpage factors is optimization done on the Page, like the modification of html code, title, Meta, Alt and other tags helpful for SEO
2. Offpage factors are optimization done off the Page, like getting relevant links from other sites, link exchange with quality relevant sites, choosing relevant anchor text from the perfect location on the different pages of different sites, etc, A search engine algorithm is designed just like the way human's treat each other, say someone applies for a job in a MNC (Multi National Company) for a very high post.
Following are the basic requirements needed for the candidate :
1. Good training to handle that post (On page factors - On page factors are the changes you make to your site physically, this includes optimizing Html Design Elements, optimizing internal link structure, writing good contents that suits the site needs,
2. Good qualification, academic wise - Candidate needs apporpriate qualification, (again comes under On page factors)
3. Other individual qualities. (very important On page factor. Some leading search engine optimizers who are well reputed in the industry often ask this question themselves while optimizing a site.Why should a site rank high among millions of sites which has the same words in them. That is where a site should posses individual quality., If it stands out amount other millions of sites then optimizing the site is much easier and it will rank high without much effort ).
4. If needed recommendation (off page factors - these are given more weight in search engines than in real life because not many people can manipulate this factor, you cant make a good site to link to you unless you provide valuable information impressive to them, If some one recommends I am valued more (so it is a only bonus thing a recommendation or a vote is just an added quality to an individual, This is how links work for search engines and that is why they are given weight, One company refers me as a genius (anchor text power for me), Other company recommends me as smart guy (anchor text in real life), Other company recommends me as "excellent guy capable of handling large projects" (anchor text), So a company first prefers individual qualities only then they go to recommendations, this is how search engines wants to work too and this is how Google has strived to work. There is always a near balance between content and links in search engines, Both are important for a good site, When it comes to usability both are very important when it comes to SEO it depends on the competition on the keywords,
For a less competitive phrase we can just rank by on page factors.
For medium competitive phrases 75% - 25% it can go either way, it can be 75% content or 75% links,
For competitive phrases it is something like 60% links and 40% onpage factors. So only in competitive field large amount of valuble links are very important but as we know without contents there is no use in having lots of links.
This is how you could apply some of search engine optimization tricks. Choosing the better contents and precise links pointing at your site would be your best bet. Choose your contents wisely like I did on my own.