If you find one of your old domains that Google has taken appeal in or buy an old site and build off the authority another person has developed you have to take a deep look at how competitive the marketplace is and your interest in the topic before you decide what type of content you want to create. If you care less about the topic than the person you bought the site from or if you abandoned the domain in the first place and are coming back to it only because it is ranking the site is most likely invariably headed toward a slow death. If you are aggressive at monetization and content creation you can squeeze out a large profit before the site dies.
If you already have adequate authority then content quality is not as much of a requirement as if you are trying to build up from scratch. It is hard to become a subject matter expert in a topic you are not interested in, so if you spend time trying to make great content as compared to average content you could end up creating 5 articles a day instead of 15. So long as neither are building too many natural unrequested links it is probably better to churn out 15 articles.
Occassionally it may be worth putting in the effort to create a serious great article, but it is only worth the additional effort if you think doing so will yield needed quality links. If your site as a whole is rather authoritative most of your articles can be pretty crapulent without it hurting you.
When churning out articles do not forget to factor original authority and the effects of the domain on CTR. For example, if the site is about Idaho mortgages it probably is not going to have enough authority to become a great California mortgages site or nationwide mortgage site, especially if the domain barely had enough juice to compete for Idaho or if the word Idaho is prominent in the URL.
Hi Avi
I think that is something you are going to have to test out. The reason there is so much conflicting information is because Google is pretty good at catching some stuff and even the experiences of one person can fall on both sides of the fence.
I too have found you can extend out the topicalness (is that a word hehehe) of a website you purchased.
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