How to Write an Optimized Title Tag

And the Perfect Title Tag is… by Rand Fishkin at SEOmoz.org reports that the formula for the optimal title tag is

“keyword phrase” : site title

according to Michael (Graywolf) at his site, Wolf-Howl.com. Many people agree with this, including me (I’ve been using the formula for years,) but I wonder how many keywords you could include in the title and whether or not Google will recognize that as spamming. I would think that as long as they describe the content, appear on the page and are not repetitive, it would be okay.