One of Polish SEO experts published few years ago exciting AnchorPR theory. According to he, Google gives every sites Anchor PageRank, for example when many sites links to site X and this links hawe word "y" as an anchor text, so site X will have high AnchorPR for word "y", and link with anchor text "y" to other site "Z" from site X gives site "Z" more power and site "Z" will also be higher in Google ranking for word "y". My English is not well, so I don't know how to tell this theory more clearly, but I suppose you will understand it. This theory is used by Polish SEO experts in practice and according to many SEO experiments it realy works well and thanks to this knowledge they have top places in Google's rankings! Does anybody knows any American equivalent to this theory, or it is known only in Poland?