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No doubt article submission is one of the best way to get back links but your article should of high quality, have good keywords, 2 back links at the bottom and high rank site is the must priority.

Of course it is best way to get quality backlinks but remember if you want to get quality backlinks from articles than submit one article in only 5-10 article sites.

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Article submission is a strategy in which articles are submitted to article directories to make them available to more people free of charge.
The benefit of article submission is that one can include a link in the article that would lead directly to their website which means more hits, higher search ranking and if, applicable, more sales.
So,Yes Article submissions is a good way to get backlinks.

I think High page rank article submission is good way to build back links and top rank.

There are dozens of ways to create backlinks (a clickable hyperlink) to your
site.

Here are four to get you started:

(1) Directory listings. If you have a blog, go to TrafficNymphomaniac.com's List
of blog directories. All directories listed have a FREE listing alternative.

(2) Article Directory Links. You can publish for free articles related to the most
important keywords for your Web site.

In the resource box at the end of the article you can put a link to your site. It is
best to include a keyword or keyword phrase as the anchor text in that link.

(3) Use social bookmarking sites to establish backlinks to your site, like
Technorati and Digg.

(4) Make comments on DoFollow blogs in your subject area. Make sure
it is a meaningful contribution to the discussion, and you will attract
targeted traffic as well as gain backlinks.

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article posting is really a good way to create back-links but we can not say that it is the only way but rather it is one of the good way like other we have social bookmarking , blog posting , PR submission and other also.

I also agree with this think that Article submission is good way for getting more traffics and back links.

Article also good. But I think we can get the most benefit with forum submission.

Article Submission is extremely one of most quality link building feature. It's strongly powerful way to generate quality back links to our site but our article should be unique and updated. It must be attractive. Article Title also keeps greater importance in article submission. We always consider high page ranked article directories to submit our article.

Yes, agree with all of above. Article and blog posting are the best ways to get backlinks for your site and to make it visible in search engines. After Google penguin and Panda update, it has become most important to write a unique, quality and useful content for users and to post it on high authority sites to get benefit and lots of traffic. Writing a good content is only he way to get your site at the top in search engines with targeted keywords. You can get more information about the importance of content in SEO with this blog: http://www.dpfoc.com/blog/is-content-important-in-seo
There is no need to post 2 backlink at the bottom of your article, only a single link of your site is enough to show your site with the relevant content, but it should be informative for readers.