i think so
you can get many backlinks from that
as social bookmarking service

Blogging is a good way to attract visitors. You can also add widgets in the blog where your readers can participate in.

yes it will..

But blog post should be genuine and informative and submit it to the various blog directories..

you can attract the direct traffic to your commercial website with the help of your blog.

Publish the url of your post to various related forum and networking site.
if your content is fresh and genuine ..
then people will follow you and you will get the proper traffic from it

Also submit your feeds in feed directories, joining social networking sites as suggested ^ will help you to improve traffic.

Blogging is a way of promoting and improving traffic to a site easily online if done properly.

Yes,they can take some backlinks to you,and i think you can exchange links with other bloggers,submit your site to some bookmarks,

i am not able to understand you buddy will you please come out again

I mean submit your blog to some blog directories,this method could take you some backlinks,and if you creat an blog post,you can submit it to social bookmarks,this also can take you backlink and traffic,and you can exchange links with each other.All these way could promotion your blog.

Yes, definitely blog creation and blog submissions help you to rank better as blogs have the same value as compare to the websites. As compare to websites, blogs are more active and comes with new updates daily.