It depends on what your "goals" are..
If you are looking at that link helping you to rank higher for a chosen keyword it will come from an authoritative website such as, but certainly not limited to, a big name company (Microsoft, Adobe, Apple, etc) or a respected site like Wiki (no arguments) and it will contain good anchor text, surrounded by relevant content, and will not have the nofollow tag on it..
A less quality link might be a link stuffed in someone's guestbook or buried 27 pages deep in a link directory..
Of course there are thousands of levels in between those two things, a solid link from a respected blog talking about your website for instance..
The other "goal" may be just raw traffic.. Something getting on page one of Digg can provide to you.. Or some other viral nonsense that drive a massive numbers of people to your website that rarely convert in to sales.. Again, what is your goal??
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