I just checked stats on 3 mega sites on the niche I got killed: all had in increase of 40%-50% from Pre-Panda, or enough to drive out of business hundred of smaller sites. In April they had the largest increase, which explains why traffic keept going down still for some sites, including mine. In April I also noticed many other sites went down, even some that had gained on Panda 1.0.
Google is continually consolidating almost all traffic to a few sites, and has very little, if anything to do with specific pages. I am absolutely sure about that because they type of pages I have are not the type where people hang out there, and the info is more or less the same. So the sites that gained didn't gain because they have more info (they don't) but because they also have these types of pages and took traffic thanks to their site.
This is the worst. Either get big or die. i feel really pissed off, I wasted 3 freaking months and close to $10K in extra expenses trying to 'improve' my site while my income was slashed. Stupid me.
Unless Google turns the knob down a bit we almost have no hope. I have a great domain name, quite old links, well above average content for my niche, clean site, relatively few pages but can't rank my pages for "widget 'domain name' " let alone other keywords.
To summarize: The only thing we can control, content of a specific page has been devalued IMO, and even sites that weren't pandalized in 2/24 got slammed after to make way for 'popular' sites.