Joined: 19 Jun 09
27 Jul 11 6:59 pm
They both are looking at different factors, but links are still important to both. However, Yahoo//Bing pay more attention to various on page factors such as links on the page, title, meta tags, ,meta weywords, H1, etc....
With good on page seo in place, you can often rank really well in yahoo and bing. However, part of that depends on the age of the base domain. They are not going to trust a site at all newer than 3 months, and it is up and down with a site less than a year old.