Following are the excerpts from MattCutts vedio on SEO site review
http://www.mattcutts.com/blog/seo-site-review-session-from-google-io-2010/
Make your page structure such that having unique text relevant to your site on page which Search Engine should be able to crawl first.
Having proper keywords in Title of page.
Collecting User generated content/comments.
Having same keywords in URL and Title of page.
Having Brandable Domain.
Having links to your home site and not much out going links.
Register your site in google, bing and other search engines webmaster.
Google webmaster can help you in with features like "Fetch as Bot".
There should be no malware in your site.
Preferably should have origianal content for your site.
If you want to highligt or show some significant Text on site, try avoid creating image for it and keep it text so it gets crawl.
Checking Server logs also helps you know traffic of your site and act accordingly.
Try generating more natural/organic traffic from social media like twitter, facebook, youtube, piccass, flickr.
Preferably use Dash over Underscore in your URLS.
Try to maintian content order such that Search Engine is able to crawl important data first.
Try to keep good meta description and all meta tags for all your pages.
Fill in all micro data tags like name, phone numbers, address etc so that search engine can readily regognize it.
Try not to avoid hidding content in Iframes / Ajax controls etc if not absolutley necessary or if functionality does not require it.
Use canonical links for duplicate urls like index.html, index.php etc…
Don't buy a bunch of links. just build those links on your merit.
Don't make more number of micro blogs, instead make a single blog and dedicate your time to make that blog stand well in the SERPs.
Put #! for ajax controls to be crawlable.
Use few or one H1 tags.
If using URL shortner try to use 301 redirect.
http://www.techzene.com/internet/seo-site-review-session-google-io-2010/