aristotle - 9:51 pm on Oct 10, 2012 (gmt 0)
I don't think that Penguin outweighs all the other parts. I think that a strong backlink profile for a specific page can negate Penguin; I was hit on April 24 - not sure if it is Penguin or Panda - I am still seeing many of my pages ranking at the #1 position or on the first page; however others with similar amounts of content are not found in the first few pages, and others are nowhere to be found anywhere in the SERPS.
@Ralph_Slate -- Your description of what happened to your site sounds exactly like Penguin. It's exactly what happened to my two Penguibized sites. Some pages didn't drop, some dropped slightly, and some fell into oblivion. I think the hard-hit pages on these sites were penalized because they had artificial backlinks with anchor text containing their keywords. But I also think that all the pages were weakened somewhat, even those that held onto a #1 position in the rankings, because Penguin apparently devalues many of a site's backlinks, so that the total "pagerank juice" coming into the site is reduced.