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I firmly believe SERP'S are based more on traffic garnered by a website relating to a search phrase made in Google.If the website related to the keyphrase and has a good amount of traffic for that particular search term only them will it feature in the front page of Google when the search is conducted.For that to happen relevancy should be high.Content that is fresh and original and appealing is a must.
High title relevancy is also necessary.Relating well to your keywords is also important.A good SEO score ensures good SERP'S.
Links are important but more in the sense of pagerank in stead of SERPS. What is really important is the page where your link is placed.If the page isn't indexed or cached it is insignificant.Your link should be placed in a page that has traffic and is cached by the Google spiders only then when people visit that particular page there lies all probabilities of visitors re-directing to your website.
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