Page code means not a lot. Much more helpful is to get INCOMING LINKS with keywords in them, and make sure they also appear in page content.
Having a link on a directory such as:
is nowhere near as effective as
In the second example, the whole link contains keywords: magician, urlshire
In the first example, only the URL is visible.
Off-page optimisation can sometimes be much more effective.
Metatags are generally ignored these days by search engines. The 'Keywords' tag is almost obsolete.
In the example by Mr Deck, I'd be surprised if the meta tags were to blame. I would be more inclined to think the keywords were indexed from incoming links.
(I've been optimising sites for Google/MSN/etc for about 4 years... things have changed a LOT!)
If you can let me know the URL of the site in question, I'll tell you WHY it ranks.
For instance, there's a site I've been working on for 2 years which gets about 100 hits per-day for the term 'iphone uk'. However... the site doesn't even MENTION 'iphone' in it's tags etc. there's just a single para which says "Apple's new device coming soon, the iPhone, tagged for the UK by providers Orange or O2".
However, there are 3 external sites linking in saying 'Speculation about the iPhone in the UK here' (or somesuch).
Google see relevance in the link text, and therefore the page gets listed for those keywords. Even though the page wasn't optimised that way, it has propagated and been tagged externally.