superclown2 - 7:46 am on May 10, 2012 (gmt 0)
In my opinion there is much to be said for doing absolutely nothing and waiting for the dust to settle - which may take a while. Over here in the UK - at least in the verticals that I'm interested in - the results are very poor indeed and I doubt very much if this will continue indefinitely. There will be much fine tuning of the algo over the coming months which could complicate any efforts to recover from this mess.
Go on holiday, take up golf or, better still, build some more websites. Anything you do now could make matters worse when the next 'improvements' to the algo come into effect.