fathom - 9:01 am on Jun 4, 2013 (gmt 0)
If Penguin were a 100% mirror of manual unnatural link penalties, then I think we'd know that by now. It's more complex than that - I've seen sites hit by Penguin that didn't match that kind of "unnatural links" profile
Manual Reviews are primarily used (today) when PENGUIN fails to detect the webspam and a search user submits a spam report and the Webspam Team agrees with the submission.
I can assure you Google would prefer to do all webspam automatically through algorithmic divine... but they aren't spammers so they are playing catchup here like they are with Facebook and the social game.
PENGUIN 1.0 COULD NOT address all forms of webspam (links or otherwise) it remains to be seen what PENGUIN 2.0 can do but PENGUIN 1.0 in general could not detect advertorial links.
PENGUIN 2.0 CANNOT detect lots!
There are also content oriented Manual Reviews for thin pages, affiliate pages, doorway pages, auto-generated pages & copied pages but those are a completely different topic.