incrediBILL - 9:30 pm on May 3, 2013 (gmt 0)
As a software engineer I'll tell you why I don't think it's easy to recover from Penguin or some of the other stuff they're now doing. I think they flag your domain when they run they're Penguin software and once you're flagged, that's it, you can't squirm and try to get out of it without manual assistance.
The easiest way to "recover" IMO is to move to a new domain, change some of the things you thought got your site flagged in the first place, and then wait for traffic.
If you waited a year to recover and nothing happened waiting a year to rebuild is about the same thing.
That's my current line of thinking is to just abandon ship and try again under a new domain that isn't condemnded and tagged for demolition.
Just a theory as I think they're making sure people don't easily squirm out of the penalty or whatever this is and I'd NOT 301 redirect to keep your old IBLs and PR as you're trying to avoid the issue, not say "HEY! WE MOVED! FLAG US WITH PENGUIN AGAIN!" - just move and let it go, done.