>>>Having tons of really bad pages did *NOT* hurt sites in panda. I run multi-million page web sites. None of them were hit by the Panda update. They all have really good pages, but also tons of pages that are *REALLY* poor. User profiles with no content, inane forum topics, pages about small towns with no content, etc, etc, etc.
Not true. Maybe that happened in your case but spend 5 minutes in the Google Webmaster forum and you'll see that 90% of the sites complaining there have tons of really good content... and no one has any idea why they were penalized
People really need to stop regurgitating this "it's your fault, you suck" message. It's not true or helpful.