Actually the term Article Marketing is many a times used in a broader sense in forums. Many users use the term Article marketing for guest posting, ezines and everything and so forums is not the right source of information for lot of things.
Apart from that those articles saying how great is article marketing may be old as well.
Now coming back to the point of article marketing it works for lot of bloggers if you can make a guest post on other authority blogs because it not only helps in links but also helps in traffic from those blogs.
My experience with article marketing is horrible.I have tried few timew but failed miserably each time because I always believe that the best content should be always on my site and not on such crap ezines and so those ezines always have the content of those articles which I have actually rejected to be suitable on my site and so probably I never had success with it.
To be very honest I am giving it one more try recently to see how things pan out.