1. Continue to build "spammy" links into my affiliate sites, and use all tactics considered to be "spammy".
2. Continue to laugh at Penguin/Panda as I have 10 sites waiting in the wings.
Penguin imparted a serious impression upon me (the original Penguin update). Google cannot control web spam effectively. They have taken draconian measures to attempt to do so, however the "mom and pop" small guys (like "old me") were negatively affected and the spammers walked away to the bank, laughing their asses off. Google doesn't care about "the small guy" because he doesn't drive profits to Google shareholders.
In my opinion, only the "stupid spammers" were affected by Penguin/Panda. The guys with half a brain in their heads are still making money hand over fist. I have first hand knowledge of several guys (black hatters, no hacking, nothing illegal) doing just that.
So excuse me if I don't hop on board the "omg teh white hats" bandwagon. Yes, my sites will be "dinged" by Google here and there, but as every day that goes by, I learn more and more as I try out new theories and see what works and what doesn't work. I liken it to me being a prisoner and Google being the jailer. I got nothing but free time on my hands to knock on metal bars looking for the weak one, fashion crude instruments (programs) designed to break through my concrete jail cell walls.
At the end of the day, it's nothing more than a cat-and-mouse game and how long before the next barnyard animal algorithm update which suddenly determines "this method of link building is a no-no" and all the white hats get wiped off the face of the map as they did with Penguin/Panda?
There's an old saying I'm sure many of you are familiar with: Fool me once, shame on you, fool me twice.....
(and I understand that some of you guys own eCommerce/etc sites and you rely upon these sites to put a roof over your head and food on your table, so my advice probably isn't the best for you. But for those of us looking to make $10k/mo. and up.....and have a big enough bankroll to play the cat-and-mouse game with Google.....party on!)
<<edit>> I'm sure there are going to be many on here who chastise me for my post.....but at the end of the day, I'm an internet marketer for one reason and one reason only: To make a profit.
Anything else is pure nonsense.