The UK index is still a bit bonkers. I've been pushed down to page 10 for my main two-word key-phrase as of last night, which the worst position I've ever held. I've seen a competitor page (which is relevent to the key-phrase but is part of a site that isn't) oscillate from mid-page eight to the second or third position on the first page. So while that sort of thing is going on I'm fairly sure the disruption is not yet over.
I spent the last two days removing unhelpful (and potentially spammy) alt-text from thumbnails on picture-rich pages. I was also horrified to find a title attribute using my key-phrase attached to the company logo at the top of each page - I know Google doesn't necessarily pay heed to title attributes, but it was one more element that didn't really need to be there. Finally I conducted another sweep of internal anchor text looking for superfluous key-word usage.
Now I'm waiting for Google to index and update my Content Keyword count in WMT (all the time trying to resist backlink paranoia...)