This works John. I call my project "Article Interlinking". I have several blogs and articles (in web 2.0 sites like squidoo, EZA, hubpages, etc) that point to my money site and these articles and blogs are the ones I build backlinks to. They eventually end up looking good in the eyes of the search engines and so the anchor texts they have pointing to my money site increases their link juice points.
These type of blogs you mentioned, I think they are categorized as "Feeder" Sites cause their only purpose like you said is giving fresh content, while pointing to your main money site.