Hi Sajid
No its not a good idea to get more no. of backlinks for one website from one web 2.0 blog. Google gives more priority to the websites who gets unique link from different C Class Ip's.
Here is the nice discussion on High Value on Lots of Sites vs. High Value on One Site
Below are my thoughts for Web 2.0 Strategy which you can use for your website or clients:
- Use high Quality web 2.0 Sites.
- Best list of High Quality Websites : http://www.seomoz.org/directories/
- Make Blog category wise or niche wise.
- Select best theme which suits your niche.
- Update relevant blogs on regular basis.
- All Content needs be unique, attractive, informative.
- Try to use images in your blog post according to the content.
- Allow relevant guest post in your blog.
- You can give link to brand name instead of anchor text.
- Create profile in Social Media like twitter, pinterest, facebook, linkedIN, Google Plus.
- Integrate all Socail Media Profiles to your blog.
- Share every blog post on Social Media Profiles.
- Try to get as many likes, shares, pins, tweets, etc on your blog post.
If you do all above things on your blog then might be after some months you will see good improvements in PR, DA for the blog.