Yes, I'd say that Panda is continuing to evolve and that might mean new sites feeling its effect.
I'm not thinking of Panda as anything small. I'm thinking of it as something quite radical, almost like a third major segment of the core algorithm.
Before Panda: Citations + Relevance
After Panda: Citations + Relevance + Quality
We know that Google collects information for many, many signals that were not being actively used in ranking. I expect to see a lot of those signals getting blended into the recipe as time goes on. I'd guess that Panda is already doing exactly that.
Some of Google's patents listed an amazing array of potential signals - many of which have clearly not been in use. But I see those patents as a kind of wish list, one that Google keeps returning to as they have the available resources.