CainIV - 6:06 am on May 4, 2012 (gmt 0)
In my opinion:
1. Percentage of low quality links versus authority links based on a leverage of brand. The more brand, the less impact of the low quality link filter.
2. Rate of build. I see sites with low amounts of quality links and lots of low quality links surviving this one. (probably not for long)
3. Intent to rank. Parallel to "non-editorial"
4. Exact match. We've seen this coming for years. Yup, now its here
5. Internal links count. The update seems to transcend any type of link
6. Root source of link. This is a big one IMHO
Does the link convey a business at the destination end?
Does the link come from an authority objective domain?
Does the link look like a byproduct of brand-building or SEO