Is My IM Thinking Flawed?

Through some pretty aggressive SEO stuff over the past 10 days or so, I now have almost 3,000 backlinks to my site. There has not, however, been a corresponding increase in traffic. I'm still only seeing 20-30 unique visits per day, just like the past two or three months. Is there a cause-and-effect chain in this whole "getting traffic thing?"

This has been my thinking:
Publish valuable content--increase number of backlinks-->increases rank for viable keyword phrase-->get ranking to top 10 for 1st page of Google-->traffic increases due to high search engine ranking.

Is there a flaw in that logic? Am I missing something? Once I have traffic flowing, the real work of delivering a valuable product starts. But I need to make sure my thinking on how to get the traffic flowing is sound.

Any and all opinions welcomed. Thanks!

Ken

Where are you ranking for your keywords?

And it can take weeks sometimes (and it sucks waiting) to see noticeable changes in the SERP's no matter how fast or slow you do backlinking. Unfortunately, Google is not going to find all your links at once. It can take quite some time. It depends how often Google visits those sites. And each time Google visits, it doesn't necessarily index the entire site. It might take 3-4 visits from Google robots until your link is found.

It also doesn't hurt to help Google along. I like to take my links and blend them into an RSS feed. Then submit that to RSS aggregators. Basically, you're building backlinks to your backlinks. It can sometimes help those links get found faster. I especially do that with any links I create from sites of PR2+.