This site has gotten me quite addicted. I'm hoping to improve though so does anyone know of somewhere to find some good discussion of strategy. Or perhaps an illumination of some of my fatal flaws?

Welcome.  The Strategy and Tactics Forum would be a great place to start..

http://www.wargear.net/forum/listthreads/Strategy_and_Tactics

Google "Risk Strategy" for a bunch of stuff -

Yes, I've looked at both of those and I will continue to. I was just wondering if anyone had a particularly great like that they had in mind that they learned from. Or if you really only build up strategy by playing and gaining experience.

Theoretical study of just about any game/instrument/skill etc. helps you to learn faster, but ultimately, experience and learning from your own mistakes is the best teacher.

Perhaps even more so than a game like chess, which has been studied intensively and it's strategies thoroughly documented, the game as it presents itself on this site in its various forms, with dice mods, territory and movement restrictions, and a host of other variables would make it such that the correct strategy in one scenario is incorrect on another - even with the same map and unit counts, simply because of a rule change, like Abandon ON/OFF, Capital Assignment, Continental Bonus or Factory Allocation Adjustment, etc. There is very little if any documentation regarding how players should deal with these rules because many of them are unique to this site.

Good Luck (I mean it - Luck never hurts. Hmm.. Even that's not always true)