submitx - 2:12 am on May 23, 2013 (gmt 0)
One client is hit hard...his major 2 term keywords are gone...but many long tail and 3 word terms are about the same or dropped just few positions...one thing I know is that 4 of his major keywords that lost rankings were over optimized with too many exact anchor text links. Many other clients I have checked so far, have not been affected. I think should be easy to bring them back. From what Google said Penguin is a real time algo now, so we don't have to wait for next update to see results.