dickbaker - 2:54 am on Apr 7, 2011 (gmt 0)
Every single page on my site has been hit, with one exception.
I have pages with somewhat lengthy ads for retail widget stores. Most of these pages still rank #1-#3 for phrases such as "[insert name of a state] widget stores" or "widget stores in [insert a city name]". For some reason these pages--and the pages that list the various stores by state and from which the visitor clicks to get to the ads--are still ranking very well.
There's only one or two other pages left in the top ten.
I see some of my worst-ranking pages pulling down others associated with them. There are some pages that went to page two, and pages associated with them are pretty much in the top 50 results.
My gut is telling me that there won't be a recovery as there has been with past updates, where sites that were in the top ten will return to the top ten. This algo is completely new, and I think that getting those first-page rankings will be like starting over again with a new site.
I've now "noindexed" about 1,000 pages of the 3,000+ pages on my site. Any page that ranks 70 or worse has been noindexed, and 70 is just an arbitrary point for now. If pages that rank better than 70 don't improve, maybe I'll go down to 50. Pretty soon, though, I wouldn't have any site left.