Marcia - 3:57 pm on Aug 7, 2009 (gmt 0)

Another observation: When checking the site: and intitle: search again, I see that most all the "similar pages" are showing the same alt= text back to the homepage, which includes the penalized phrase.

Doing this search:

site:example.com inanchor:"keyword1 keyword2"

There are 1,050 instances returned - just about all are that alt= anchor text from the heading graphic, within the site itself.