Great post Jay.
We've been doing projects like this over at TGP2 since last year. We get a bunch together with very different IPs, then build sites and link A to B, B to C, C to D, D to E, E to A (they're bigger than that, but I'm not going to go through the entire alphabet ... you get the idea).
You've got to SEO everything, and choose a keyword phrase, etc. But I'll tell yu, it works.
