Linking and content in Busby seo Challenge

People who are interested in SEO often ask what is more important between Backlinks and content ?
And the answer is often : both, without really knowing if one is more important. We don't know it because anybody knows exactly the content of Google's algorithm.
However, my point of view about this crucial question, more crucial when you're taking part in a seo challenge like the Busby SEO Challenge, is that it's possible to get a good position with a nice content and links of quality (in context). This purpose is presented by the Sphere Team on this topic about tricks in a SEO contest.

But as you'll read, some SEO don't think the same. And in a way, when you look at the Shere Team's position and the number of links the site has, you can conclude that BL are important. The best you can do is having quality one...