< continued from [webmasterworld.com...]>
I'm seeing similar signs this morning but I think that this is in reaction to the effect Internetheaven reported above. ie a devaluation in internal links caused an overvaluation in low value external links. I've seen a few sites rise to the very top of Serps that seem to have done it through link buying and link exchanging with off topic and/or poor geo location sites. Those now seem to be dropping.
Also one site that, out of the blue, got sitelinks for a very competitive 2 word term where there is no way it should be top of serps never mind be given sitelinks for that term. I'm pretty sure that this was an indication that external outgoing links, with the right anchor text, was given an undue boost. Today they have lost sitelinks. Lets hope they don't get them back!
What I'm seeing this morning looks like they are either tweaking down the weight of external outgoing links and incoming links or turning internal link anchor weight back up a tad.
[edited by: tedster at 3:16 pm (utc) on May 1, 2008]