Google Webmaster Tools Beefs Up Anchor Text Report
As if you needed another reason to verify your site within Google Webmaster Tools, that specific team announced early this morning that they've improved the report that shows incoming anchor phrases that point to your site. Get to the report in the Webmaster Tools area in the Statistics tab, then by clicking Page analysis:

Previously, the report showed only individual words that made up anchor text phrases. Now, the reports shows up to 100 specific phrases themselves, which is significantly more helpful:

Data like this ranges from interesting to very helpful. It offers great insight to the behavior of people who link to you, since many people probably think incoming anchor text focuses mainly on company or site names. In addition, it might lend some guidance about some strange referring keywords you've seen in your analytics reports - as well as why you might not be seeing some specific referring phrases that you want.