Squidoo lens... I have been reading about this technique lately but haven't got a chance to implement it. Gonna give it a try real soon.
So lets talk about stuff that matters
What are some super awesome link building methods?
What I've been doing lately (in addition to the regular old school methods) is (ab)using yahoo answers, sponsoring/donation to related events, trying to linkbait (not much luck in that so far), building squidoo lens with links, all kinds of wikis
Any other creative ideas that don't require too much investment in time/effort/money?
You should look at these additional modes:
1. Reaching out to bloggers.
2. Building widgets and getting them to widget directories
3. Building a small piece of software and getting it to software directories.
I personally haven't had a great experience with Squidoo, its just a low value backlink unless the lens is itself promoted.
But Squidoo SEEMS to be awesome for the tag bombing and getting the pages to have more internal link juice within squidoo.
As for Wikis, very few of em out there which actually give out quality links.
My strategy for getting back links is simple.
Step 1...Drink Beer
Step 2...post in blogs
Step 3...Drink more beer
Step 4...Post in forums
Repeat this all night until you get banned or you cannot spell.
It works for me because I rank for thousands of misspelled words.
I thought the same before reading your answer!
(sorry for the posts edit, but I've messed up with the buttons - no edit was made)