Relevance of link anchor text

[Torsten]

What is the relevance of the link anchor text?
<a href="http://www.mydomain.com/link.html">link anchor text</a>
Has it any influence on ranking with keywords and the like? What is it's influence in general?

[Torsten]

Ya thats what is the most important thing. Suppose that you are targeting SEO then if you will generate links with the anchor text SEO then you would have more chances for ranking high.

Typically the anchor text would be the title of the target page. So this would be repetetive on several web sites. So I wonder, what would be the influence of that. I once read that anchor text variability could be an advantage. I personally some times change the wording or sequence, which is also necessary, since sometimes the length is a constraint.

[overdriveelectronics]

I change my anchor text depending on where I put my link! Its very important to target your keywords with this text!

[tptnyc]

You mean if some one has silver jewelry web site, he should do first for one product item and then for the second product item and then the third e.g;

<a href="http://www.domain.com/">silver necklaces</a>
<a href="http://www.domain.com/">silver earrings</a>
<a href="http://www.domain.com/">silver pendants</a>

OR what is the better way to write anchor text for this URL and in this case??