While there are many penalties clearly assessed by identified Panda versions -- and as many intelligent theories as to modes of recovery -- I wonder about one particular possibility among the many others.
Is it possible that Panda does not like sites which link out to many other sites as an editorial service to the user? In other words, I may say that we have a lot of information about a given topic, but not all possible information and angles about everything relating to that topic (impossible to do, in my view). As a result we link out to sites which we believe may provide such information (e.g. certain Wikipedia pages). Am I linking out too much? We are not a link farm at all, but we believe that linking out is part of our editorial duty and we were respected pre-Panda it appeared. Must I assume my role as an editor of what we perceive as a useful link in a field in which I am an expert is no longer seen as an appropriate role? In other words, does Google always know better than we do on every subject according their algorithm?
In addition, we now do queries which return specific information rather than general information, which makes research far more difficult, as specific information on a general search term often returns SERPS for a given brand or company and not websites which list and evaluates such brands or companies. Is it no longer possible to be a niche review site with much original content without being penalized?