3 clicks or more?

Eric Schaffer, CEO, Human Factors International, Inc., talks about the 3-click thing in the article, Web Banking: Quickness and Usability Keys to Successful Web Sites. The topic of 3-clicks versus more clicks coupled with good organization and labeling has been getting some mileage on CHI-WEB, with lots of refereces to the good-scent concept of Jared Spool. The Spool concept contrasts with the 3-click concept, by suggesting that users will follow any number of links to navigate to their destination, so long as the steps toward that end point have a good scent -- i.e. the steps convey in a clear, consistent and understandable way that they are on their way to the thing they need.