
This is really a question for you. Think about it. The answer is that 99% of spam wants you to click on a URL (web-site), to call a phone number, or send an order to a fax number.
The first level of filtering performed by SPAMSteward is based on the URLs (web-sites) and phone/fax numbers mentioned in spam. We have found this to be very effective - we have seen 10 completely different looking spam messages, sent from 10 different mail systems (even in different countries) mention the same web-site or phone number. By actively "harvesting" new spam, we update our URL/Phone# list every five minutes.
Although our service does not filter on content based on simple words or phrases (which is too error-prone), we do filter on distinctive long phrases found in spam. An example is "diplomas from prestigious non-accredited universities"; it is extremely unlikely such phrases would ever occur in a legitimate email. This helps us stop recurring spam in which the URL changes very rapidly.