Is building a WordPress plugin a bad link-building strategy now?
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One strategy I was considering for a new site was developing a WordPress plugin that would have the side-effect of generating lots of back links. Given Google's recent over optimization update, this sounds like it could be a really bad idea. The nature of the plugin would be such that it would probably be used on very new blogs with low quality.
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I would say so long as it says in small text on the bottom: such and such plugin brought to you by yoursite and you add the option for individuals to add a rel=nofollow (most people will forget) then it's perfectly legitimate link juice. But make sure to have something about the plugin on the page itself, otherwise you could be penalized for lack of relevency...