The only challenge that I would make to your perspective is your position on "Creating a content-rich Web site building relevant links, blogging, commenting on other's blogs, tweeting, and curating discussion boards on Facebook and LinkedIn takes time, but not a lot of program dollars."

In the real world, the resources required to consistently execute these labor intensive and increasingly interconnected tasks must be recognized as an ongoing cost to the business. And if a business is to realize continuing value from these activities, sustained "investment" in them over the long term can far exceed the one time cost of a traditional outbound program or campaign.

The significance of this is far from understood. And unfortunately, many businesses engage in the "new marketing" and come to realize after the fact that continual content creation and engineering (like a publisher) is much more than they had considered. And worse, they may abandon or diminish their participation and fault "new marketing" as not living up to expectations. More on that here: http://bit.ly/a6T826

Thanks again for the great post! Looking forward to reading more.