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Networking is HUGE for professional jobs. It is one of the reasons why my SO's engineering school invites employers to visit campus and do presentations in classes. After the presentation is over, the students have a chance to chat with the representatives. My SO has been sure to introduce himself (with perfect resume) to just about every representative that comes, and also sends a follow-up email after the chat. In addition, he has been very thorough about meeting professors, going to office hours both for help and to make sure they know him, etc., because their letters of recommendation, ability to provide a reference, and real-world contacts are invaluable.
For people who are students or soon to be graduating, use your university's resources. Xerxys referred to this a bit in the OP, but every school has a Career Services office or equivalent. No university worth its salt wants to see students in a professional program graduate without a job. Typically, they offer classes or workshops on resume writing, networking, etc--ours even offers a yearly dinner for students to practice their etiquette skills. They may also have a jobs board--ours is online now. You're paying for all of this stuff from tuition and fees, so use it.
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If I am not better, at least I am different. --Jean-Jacques Rousseau
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