Leonard0 - 5:47 pm on Aug 12, 2012 (gmt 0)

I'm in the same boat too. My sites have lost about half their traffic since last summer, but it has been a gradual decline so probably not due to Panda/Penguin.
Maybe not enough content ATF, the freshness factor or something else.
I have spent a lot of time going over the sites trying different things to turn it around. Even a redesign to liquid layout did nothing to improve things.
Seems like the EPC also declined at the same time. Did anybody else notice that? Maybe the SERP ranking of site is a factor in the smart pricing algo.