Is Anchor Text important?

In the Google search engine, it treats the text of the link in a special way for imporving search quality. In most search engines, it uses the text of link within the page for search result, more, Google associates this link to the page in which it points to. First, the third party provide more accurate descriptions to the page where it is pointed to. Second, anchors may exist for pages that are not text-based, like images, programs etc. so it provides more information for the crawler to crawl. Strengthened with this feature, Google can analysis more accurate of the web page's content from other third party's anchor text.