I never thought of this weeks decline in traffic being related to spring break. Hopefully that's what happened to our money maker site. That's good to hear you have seen improvement though since being hit by Panda!
We've seen a drop of about 10-15% this week and had experienced mostly gains from Feb 2011 through early March 2012 on this particular site. A little bit up and down between, but the trend has been significantly upward overall. I need patience I suppose, hopefully next week it will jump back 20-25% :)