I ran across a very good run-down on Search Engine Optimization over at SEM Labs. Rather than attempt to recreate the wheel, I'm just going to refer you to the article. It's well worth the 10 minute read.

By the way, this "find" leads me to another thought – I "found" this article through the Comments section of another blog I run (the Muscle-Build.com Blog) – the author of the comment is the man behind SEM Labs. You NEVER know what you're going to find in your Comments (so check them – they sometimes are GOLD)!