No need to fear the next refresh or wait in hope.
It's easier to swallow steady drops on a daily basis than one big one.
When your peak season approaches you don't have to sweat on a sudden big drop and then having to wait until after your peak season for a reprieve.
No need to monitor this forum so closely for news of Panda!
Google will have been testing this for a while and many here have seen signs of a daily/weekly Panda out in the wild for several weeks and months. I'm pleased they finally got round to this, should make it much easier to figure out whether we're moving in the right direction or not.
I think it will still take a month or so for most sites to see the effects of changes, high traffic sites might see results much faster.
Overall a good thing I think.