Jez123 - 4:00 pm on Jun 1, 2012 (gmt 0)
I am not at all convinced there is much we can do to recover from Penguin. Very few people have done something and then recovered - most of the "recoveries" (and there have been very few) seem more likely to just be shifts.
If I am right and google has just discounted a load of links that they don't like (think about it - it may not even be links to you but if some sites that link to you were giving you major juice and they got hit, well you got hit by proxy) we shouldn't need to remove any. Just add more to make up the defecit.