TheBigK - 3:50 am on Dec 2, 2012 (gmt 0)
@akk9999 : I've read and re-read his posts. Yes, my cynicism comes from those people with 'green bubbles' next to their usernames in Google Webmaster Forums. They tell me their websites had a million of those errors and were not affected by Google.
You may search for "Can large number of internal broken links cause search penalty?" in GWT to see what those folks have been saying.
I'm sorry for being very paranoid. It sucks, but I just want the crawl rate and the traffic to come back and have been researching a lot these days. :-(