Bill at INDC Journal is giving tips on how to comment spam. While I would never participate in such a sordid practice, others may be interested in Bill's tutorial.
A related note that Bill didn't mention is using Trackbacks to good advantage. These are sometimes even better than comment spam in generating traffic. And then, you could always go for the twofer: comment spam and trackbacks.
Not that I would do such a thing. I mean, even though I've got plenty of bandwidth available, I'm not interested in trying to use it all. I'm happy to toil away in obscurity.
Honest.
Update:Dean Esmay has more advice on building your blog, with links to a couple of earlier posts he wrote on the subject. Some of Dean's key points, with which I strongly agree:
"Introduce" yourself to potential readers by making meaningful comments on other, bigger, blogs
Snarks and insults are usually counter-productive in blogging, just as in life
Link people freely (Dean says it's good karma)
Trackback responsibly
Give it some time
Of course, I'm just a duffer at blogging, so what do I know? It's a different story with Dean, so you'd be well-served to follow his advice.
Update II:James Joyner agrees.