Q: If we talk about link building in Post-Penguin age, I would like to know how important are these two factors:
1) What the site is about?
2) Anchor text – on links as votes?
A: Link building has become all about quality after the Penguin update. So, what is the parameter of quality?
Firstly, the website should be real and not some junk such as a low quality blog created by SEO link builders. It should be run by a real person and must have real content. Secondly, the content on the website must have high quality, which is measured on the basis of grammar, information, and accuracy. Thirdly, website should be thematic. If a website or a blog is about SEO, it should not have content other than SEO, AdWords, Internet Marketing, and Social Media.
So, I would suggest that you try to get inbound links only from contextually relevant sites. The second priority should be keyword-rich anchor text. One thing to keep in mind is that anchor text optimization should not be overdone.