It's not just about "how many" links you need. It's more about the quality of those links. Is the page your getting a link from related to the page you are linking too? What is the PR of the linking page? How often is your keyword in the linking page, where in the page is your link placed (begining, middle, end), how is the link setup(in content, footer, etc). All of these factors affect the quality of the link. What's the actual formula? That's a Google secret.
The point is you can acheive better results with 10 high quality links than you would with 100 crappy links. So never think quantity. Always think quality.
Having in-content link is one factor of the overall quality, or alue of the link, but it's not the only one.
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