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If your sites were highly focused on individual keywords and keyword pairs, MayDay put you in your place. I just wish I'd seen it coming....Depends on the site. I'm focused mostly on highly competitive two word phrases using purely "white hat" tactics and if anything I got a traffic bump from Mayday. We're not a big site or big brand, nor do we use large numbers of low quality links or buy links of any kind. It depends on the vertical but a well engineered site with a decent link profile shouldn't have got smacked too hard for 1 and 2 word phrases unless it was significantly over or under weighted for one element of the algorithm.
Mind you again though - if I spam the forum profiles with my link aswell I might have a chance.
I used to bust my butt to keep one single word where I was top 10 in all major SEs for years and it only contributed 3K visitors/mo vs 400K/mo in long tail searches.
Gave up that keyword and never looked back after easily dominating the long tails in my niche that surprisingly drove way more traffic.