Submit your website to legitimate award sites like Mike Corso's Cool Site of the Day.
The emergence of sites like Digg and reddit means that such 'site of the day' sites will struggle long term but meanwhile they are offer a quick, free link and traffic opportunity. Here are a few more:
http://www.daydaysite.com (PageRank 3)
http://www.thefwa.com ( PageRank 6)
http://someonewhocares.org/siteoftheday (PageRank 4)
http://www.coolsiteoftheday.net (PageRank 5)
http://www.coolsiteblogger.com (PageRank 5)
Seems like a waste of time perhaps
Many of the submission sites require fees to get listed, which is great for companies with big budgets, but bad for newcomers.
Submitting to the sites is somewhat of a crap shoot - you may get listed (eventually), but more than likely you won't unless you're willing to pay.
Still, if you can afford the fees, the exposure you get from being featured/reviewed should be worthwhile in the long run.
Cool Site of the Day
I was fortunate enough to get a link from Cool Site of the Day for my text message marketing site and it always ranks as one of the best links that I have.