We lost about 25% of our traffic back in the October Panda update, then lost another 10% in the above the fold debacle.
Our main focus was on GWT;
1 - Cleaned up some cats and dogs with 301s about two months ago.
2 - Placed a search box next to our site's banner instead of below it (to help with Above the Fold) Text now starts at 120 pixels. We only deployed this about two week ago.
3 - Finally deployed the canonical tag, which helped clean up a lot junk in GWT about two months ago.
4 - Starting writing meta descriptions about two months ago. This is about 80% complete.
5 - Eliminated a legacy / unmaintained links section.
We thought the above was effective. Normally, out of 1,200 pages, GWT would show about 1,000 in the index. Right now it shows 1228 out of 1232.
Comparing today to the last two Saturdays, we're showing a consistent 18% increase (not 15%, not 20%). It's very consistent, very real. The site gets tens of thousands of visitors daily, so there is no doubt about the change.
We expect the above the fold change we made to take hold in about another two weeks.