I believe that penalties on internal anchor text are BS.
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Posts made by EGOL
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RE: Does anchor text penalty apply to internal links?posted in Technical SEO
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RE: Are reciprocal internal links weaker than one way?posted in Content Development
If I thought that a link from the product page to the blog would be helpful for the visitors I would have no hesitation to provide it.
Lots of my product pages have a link to an article with anchor text like this. "How we use the SEOmoz Blender" or.. "Video: How we use the SEOmoz Blender"
These have significantly increased conversion rates. I don't care what the search engines think.
If you have a really good article that you think will help visitors make a decision about your product or help them enjoy it I am betting everything that will make you a stronger brand than any teeny tiny advantage that a link on the page or its anchor text will subtract. In fact, I am willing to bet that those back-and-forth links with optimization improve your search visibility because it shows you have deeper content than the guy who has not written this content.. That will earn tweets, likes, links, sales.
Lots of mine have double listings in the SERPs. Then I pull traffic for people who are looking for a product page AND people who are looking for information.
This is not deoptimization or cannibalization. It is kicking ass.