@canuckseo This is EXACTLY the scenario for my site....EXACTLY.
And I'd like to add....that in my niche - what IS ranking for the two very big keyword phrases for me that I lost from Panda - is some very outdated websites and sites with TONS of ads including more than one adsense unit per page. Also - the same owner has TWO sites ranking in the top five for these keyword phrases. He's interlinking, same server....crap ads everywhere. So what gives? What do I take from this? Add more ads? interlink sites I own? I did the opposite because I thought I was making my site better and following the rules.
I will add, like @indyank....my bounce rate has skyrocketed as well. Like to a weirdo high level. 50%-75% on many pages. Pre-panda (April 11th) it was not like this.
I think my traffic gain is like @dibbern2 - just more traffic from other keywords....and the Panda hit stuff hasn't seen any improvement by all that I have done. At least nothing significant.
But at this point.....
You have people that have done nothing and recovered. People that have done tons and not recovered. People that have done a little and not recovered/recovered. People that weren't hit at all that should have been. People that were hit that should have never been hit. Blah blah blah.
So yes....I know we're trying to figure out the recipe for recovery here - but are you saying that unless we've FOR SURE recovered significantly from Panda than I guess we should just shut up, lurk and wait for some holy grail of answers? I just want to make sure I shut up appropriately. LOL