One of the sites that I manage saw a drop in traffic after the UK Google Panda update last Monday (11th April, 2011). Since then I have been working relentlessly, pretty much around the clock, to try to learn what went wrong and then to resolve the problems.
Google Panda is essentially a website quality update. It is the first step towards search engines returning quality sites that are not based on webmaster votes (i.e. links).”
I have been working about 12 hours a day, probably more some days, and have a change log with over 500 entries.