My first post here. :) I have one site effected by Panda and have lurking here looking for tips. I did get it out of the penalty a couple of days ago. Still traffic from Google is 30% of what it was. It's a celebrity site that lost 80% of it's traffic on Feb 24th, and was no longer found for its main keyword.
Also it is a Wordpress blog. I deleted about a third of the posts because they were "thin content." I installed a new theme and made some new posts. That was not enough.
I installed the subpubhub and WP to twitter plugins made a couple of posts, and that is what finally pulled the site out of Panda.
Hope this helps some one.