Scotch - 11:06 pm on Apr 22, 2012 (gmt 0)

I operate a site that has been dominant for many years usually at the number 1 spot for many great keywords... site's been online for over 10 years. I believe I'm seeing a soft penalty on the site with some rankings dropping to the 2 and 3 spots. Because I haven't updated the title or anchor text on the site in a very long time, I know the site definitely has way too many keywords in text, keyword title tags, bolded keywords, etc. It's just performed so well that I never changed that. My mistake.

Question to Brinked and others: I'd like to start changing and updating the various pages of the site immediately to address these concerns. Do you think it's risky to do sitewide updates right now or should I implement them more slowly over the next couple weeks? Would at least like to tackle the homepage asap. Doesn't seem that Google would care if you revamped your site to fall in line with the new algorithm parameters but who knows. I'm hoping that once the changes are made, we will be released from the penalty box (Brinked - I took great comfort in your approach and experience in seeing sites de-penalized automatically after removing offending elements without the need for a formal reconsideration request... hoping that's the case for me).

Thanks in advance.