One of my common practices is building links for other websites. Beyond the general karma angle, by link building for sites that link to you, you help yourself out indirectly. At the very least, every time a site links to me, I bookmark that page at 10+ social bookmarking sites and promote it on stumble upon. You help a site that was nice enough to link to yours, and if you can build more link juice to pages that link to you, you create more link juice to your site as well. You make a better friend of that website owner, help their site to rank better and help your site rank better as well. It's a no-brainer. I will also link to these pages if they deserve it and fit well into one of my site's themes. Everyone wins when you are free with linking.
If we all linked to each other more freely, less link buying would be needed. Of course, this will never work for sites whose strategy is to throw up lots of thin content and buy lots of links, but that is the point isn't it? The more we link to each other's quality content, the less effective these sites' strategy will be.
Discuss the best ways to promote other people's content and general link-hippieness in this thread.












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