A Link Wheel is a state of the art SEO method that makes use of the highly popular Web 2.0 Authority Sites such as FaceBook.com and myspace.com in ways that were impossible in the past. Using carefully crafted one way links, a Link Wheel can avoid the use of reciprocal links completely. This allows for maximum development of PageRank', all of which ends up at the target website.
The strength of a Link Wheel is derived from it's unique hand written content created specifically for the target websites that host the link wheels content. Link Wheels focus on keyword phrases within the content and anchor text of links. The links in turn point to other pages and so on creating the wheel aspect of the link wheel. By repeating these steps the Link Wheel is essentially collecting link juice from the high ranking websites as it moves toward it's final destination, the target website.
Other technologies serve to enhance the effectiveness of Link Wheels such as RSS Feeds, Social Bookmarks, Blogs and XML/RCP servers which ping the search engines to inform them of the creation of new content. When done right a Link Wheel brings together an assortment of technologies creating a symphony of digital media and highly relevant information that search engines eagerly consume.
While the process of creating Link Wheels itself can be rather aggressive in terms of SEO tactics, the risk to the target website slim because the entire process takes place off the server.
A properly designed Link Wheels will increase the rank of any website. But they are even better for older, well established websites that seem to have hit the ceiling in search engines. The ability to dislodge an already high ranking website and improve upon it's position is a tribute to the power behind Link Wheels and the insight of the engineers who originally developed these SEO marvels.