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i.e. If you were included prior to OSM, you would still be included post OSM. But if you weren't in the index, you would be removed.
However, your ranking _may_ not be the same, because new pages would've been added (or removed) and changes in the alorithm may of occured.
But I am looking at it this way, if the site is SPAM and not good for the index, then no matter HOW it gets the penalty, it deserves the penalty and doesn't belong in the index.
The "white hat" webmasters shouldn't be worried.
Whenever I speak to an editor at Yahoo!, I get the comment of "is this going to be useful in the index and provide value to the user enhancing their search experience?"
To me, this is what webmasters and search engines should be aiming for and whilst it is highly subjective, it does provide a good "mission statement".