I made a couple of blog posts last year predicting that Google may start using Traffic Data (data they aquire via people clicking on results in the Google results pages) as a ranking factor.
Is Traffic Baiting The New Link Baiting
Is Traffic Rating Important for SEO
My theory was that Google would lower the importance of how many back-links a page has and start using reliable, trusted, traffic as a measure of a pages value.
Basically, I though Google could Analyse the traffic and clickthroughs their results pages receive and use this data to determine which pages were delivering the higher quality content.
It may all sound a bit advanced (even for Google), but could there be an inkling of truth in my theory, and could the recent changes in the the relevance of backlinks be a small indication in a shift towards using traffic data as a ranking factor?
Let me know what you think.

Hi Terry,
Definitely ! I’ve also thought this my self. Is it fact that reciprocal links no longer hold any weight?
Cheers,
Adam
I think this is a probability. But I still don’t think its a solution to create more accurate or higher quality search content. It can still be abused in the same way as links. Although the good news is it may create a lot of ‘find and click’ jobs if it is true.