Backlinks vanished! Did I get penalized?

[mrbrad]

I have a site that had almost 700 backlinks just a week ago and now I find that it only has 1 backlink and has vanished from the SERPS. However this site still has a PR7.

This is very strange to me. Did I get penalized/banned?

Any insight would be helpful.
Thanks.

[troels nybo nielsen]

That was two days ago. How does it look now? And have you tried different Google datacenters? It may be a simple glitch at Google.