Sean Wu has launched the Tag and Ping, widely reported as one step ahead of the blog and ping concept. They claim that you can get a large number of incoming links from high PageRank sites.
However I have serious reservations against this. The way respected Internet marketers are promoting it, it was bound to get popular and IMHO, it has already taken its toll. Today I noted that del.icio.us, the most popular social bookmarking site, has set all the links to “rel=nofollow” thereby implying that a link there will not pass any Pagerank to the target site. I am sure others will follow suit.
Of course, if you have a nice website, that may get endorsement from other other visitors to the social bookmarking site and this may send some visitors to your site. If this happens, these will be visitors interested in your products and you can actually hope to get some business from them.
Update: The system abusers have got onto their act and have created so much trouble already that the author of Tag and Ping had to issue a public warning for them to slow down. Tch-Tch.