So. I have one newish, smallish site that disappeared on april 24th and resurfaced back to previous positions a couple of weeks later. All I did was water down my desc, title and h1 tags a bit.
Was I hit by Penguin? I don't know. If Penguin is only run once every now and then I don't know if you can recover so quickly. My much better, longer established more valuable to a real person site has not recovered.
What I feel is this - you've got much better chance of success now launching multiple disposable sites. Get hit by Google on one site and you just forget it and carry on developing more sites.