errorsamac - 9:32 am on Aug 5, 2010 (gmt 0)
Yes, I have definitely see one healthy backlink pop a site right out of the -950. It seems to be applied against a site whose rankings seem artificially bumped up, so this makes some sense.
I am surprised to hear that the -950 is still around, so thanks for the report.
After posting a few days ago that the site was still at -950, I went and de-optimized the site. I just checked now and the domain is back at the top of page 3 in the SERPs (which is where it was before the OOP and probably where it belongs).
The site is a 9-page website that was launched back in April of this year and it has around 130 backlinks (good quality).