Andylew - 12:29 pm on Jun 25, 2010 (gmt 0)
If can't see interim updates, your data does not incorporate a wide enough sample.
We have seen every algo change through may/june come through in our traffic - even with a 80-90% drop as we saw on may 1st our stats are still large enough to notice these. Algo tweaks however have all been acting on pre mayday page information.
In terms of the serps we are seeing april crawl data and algo changes are acting on that data, at some point google has to update its data to the more recently crawled pages. Using 80/20 I belive caffine is updating 20% of the web in near real time and saving 80% for a monthly update.