freejung - 6:40 pm on Nov 10, 2011 (gmt 0)

Another important quote from MC referring to ads

"...it's not a direct ranking factor in Panda."

There's a lot in that statement if you unpack it, because it implies that it is an indirect or emergent factor in Panda -- that while Panda isn't actually measuring the percentage of ads directly, it is measuring things (presumably behavioral metrics) that might be impacted by ad positioning.