crobb305 - 1:01 pm on Oct 16, 2012 (gmt 0)
I don't think rankings will ever be fully-restored unless the site acquires some new "natural" backlinks to compensate for old backlinks that were removed or devalued.
aristotle, I agree. That was my underlying assumption that I should have included with my speculation: *IF* a site eliminates the spam (whatever that may be), acquires new backlinks, etc., then *maybe* there can be some recovery, especially with future Panda iterations (assuming that Penguin increases a site's susceptibility to Panda).
I've had 200,000 bad backlinks removed, and have acquired some very nice, natural backlinks, even some media mentions. Not a single iota of recovery. In fact, rankings keep dropping.