WebmasterWorld moderator martinibuster shares some valuable link building tips in what he calls the "Link Theme Pyramid." In his post, he gives his opinions on some link building techniques that have worked for him.
Roger says that anchor text should match the page it's linking to (where the page should contain the anchor text somewhere). He adds that hubs should be more than pages of links and that perhaps your home page should not be the most relevant page. This is something Jim Boykin preaches. Finally, Roger says that you should aim to focus on the long tail.
In the thread, forum members mention that some webmasters demand a link to the home page, not to a specifically targeted inner page. While that's all well and good, the problem is that it won't help your link building efforts. That's the point I believe Roger was trying to convey. Some webmasters say that the problem with linking to inner pages is that they may break over time (and I suppose it's harder to check if the page is gone). My recommendation here is a 301 redirect.
Forum discussion continues at WebmasterWorld.