Link wheels is a group of website that essentially links to your main URL to boost the search rankings. If link wheel is placed in popular and reputed sites then you can easily target the quality audience.
Link wheel is a collection of web 2.0 sites that you create. Link wheels can range in size from a small handful to several dozen, and each site has relevant content to either your main website or blog, or to a specific page you’re trying to promote within your main site.
ink wheels are nothing but a group of websites that are interconnected which try to improve the ranking of a target website by linking to target website. For example if you have 50 websites in your link wheel and the website you are targeting is "yourdomain.com", then:Site 1 links to Site 2 and back to the "yourdomain.com"Site 2 links to Site 3 and back to the "yourdomain.com"Site 3 links to Site 4 and back to the "yourdomain.com"...Site 13 links to Site 14 and back to the "yourdomain.com"Site 14 links to Site 1 and back to the "yourdomain.com"
Link wheel is an effective technique for website rankings, you can find a clear idea about link wheel in this blog http://www.seoservicesgroup.com/blog/2009/11/linkwheel-and-its-effect-on-serp-rankings/15280/
Link wheel is a collection of site like web 2.0, article sites, which are interlinked with each other through their keywords and yes linkwheel helps to get the better ranking for the website.
During the last few months link-wheeling has been of no use as it has not benefited my serps. I also read on a forum that link-wheel is no more beneficial. I would advise you to use some other activity like guest posting instead wasting energy on this.
ink wheels are nothing but a group of websites that are interconnected which try to improve the ranking of a target website by linking to target website. For example if you have 50 websites in your link wheel and the website you are targeting is "yourdomain.com", then: Site 1 links to Site 2 and back to the "yourdomain.com" Site 2 links to Site 3 and back to the "yourdomain.com" Site 3 links to Site 4 and back to the "yourdomain.com" ... Site 13 links to Site 14 and back to the "yourdomain.com" Site 14 links to Site 1 and back to the "yourdomain.com"