1) Never believe anything Matt Cutts says. He works for the company that wants to stop you from gaming the system.
2) Original text absolutely matters. If you have exlusive, original text on a terrible site with infrequent updates it will not help you. It is one important factor, not the only factor.
3) You are not CNN, Yahoo, The New York Times, Huffington Post, CBS, NBC, ABC, FOX etc... and Search Engines are able to differentiate your blog from CNN or the BBC.
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