I've not seen, with any of my clients, any meaningful effect from Panda, save for a few duplicate content issues that flew under the radar suddenly being highlighted. (Which, fair enough. Google should of shot them down years ago, they just weren't up to the task at the time)
As much as I'd like to brag and take credit, the reality is that at its core this is down to the nature of my clients. Most of them have small, brouchure style websites. Their site serves a point - usually to try and sell something to a user who is searching for that specific thing, or to inform people about whatever it is they're supporting, or whatever.
A common theme I see amongst people hit by Panda is 'My site has 50,000+ pages of quality content! Why have I been hit.....'. Now, I'm sorry, but if you have 50,000 pages, it's not quality content. Unless your a huge E-commerce site with 45,800 individual products. Or Wikipedia. Your probably not one of these things, though.
Basically, it strikes me that panda has hit people who were creating traffic to chase the audience figures they've discovered through 'Niche Analysis', rather than to chase the audience for their businesses. And that's good! SEO should support businesses, not the other way round! Businesses created because 'I found a niche' were always doomed endevours.
Anyway. Frankly, any businessman who puts their entire lead generation onto one independant third party who has no reason to care that the business even exists is dumb. Spreading and mitigating risk is literally one of the most basic principles of business, and 'all my leads will vanish on the experimental whim of any one of 300 Google Engineers' is a pretty effin' huge single issue. Anyone who didn't see that coming is a dummy.
Also, SEO will never die as long as search engines are algorithms. It is a computer. It runs on rules. You figure out the rules, you optimise for the rules, you rank. Just because the rules are no longer 'GET PR8 BACKLINKS! META KEYWORDS!' doesn't mean SEO is dead, it just means we're probably crap at it at the moment.