Recently I read on a newsletter about how you should stop commenting on other blogs for SEO. That's because the search engines aren't that much paying attention on comment links and half of the time they have rel="nofollow" added to them. That nofollow-thing tells the search bots to ignore and not to follow the link.
Besides it's lots of work to comment on other blogs. And half the time the comments are more or less ignored by the blog owners.
That's actually correct. All of it. The links on comments on other blogs aren't helping much with your SEO. Commenting on popular blogs is also futile if you hope the blog owner to notice you.
But there's something else to it too. First of all I've noticed that commenting on popular blogs creates at least a little bit more traffic. It may be only a couple of new folks coming in, but that's the couple of new folks more. Some of them may become regular visitors too, so it's not a bad deal.
Other good reason for commenting on blogs is to get more comments on your blog. This works especially if you comment on not-that-popular blogs.
The owners of blogs that don't get a steady amount of comments every day are thankful for any (nice and polite) comment they get and therefore are often happy to return the favor. Believe me on this, I know.
The truth is it may seem like lots of work with very little gain. However if you aren't ready to work for your blog, it's best not to hope too much traffic or comments on it either.
Commenting on other blogs isn't about SEO. It's about connecting.