I think that the vast majority of us, can honestly say, Panda is an on-page algorithm. It was allegedly created to get rid of content farms, but it's classification of a content farm is too hard to generalize at this stage. It is possible they are slowly rolling back and tweaking panda, so less non-farmer like sites are hit. This is my only hope.
In my serious [perhaps bias], honest opinion, I generally think that Google is better off ranking my sites, I have literally done what I can to make them the most useful sites I can imagine, with no expense spared.
For example, a whole site about Los Angeles travel, and guides to the city, would provide far more information than a wikipedia page about the city, or an expedia list of hotels, so why won't it rank?