I've been reading just about every theory that's been advanced about how to recover from Panda. There's been so many that sometimes it's overwhelming.
A month or so after Panda 1.0 took half my Google traffic, I no-indexed pages that I thought were weak. After reading many posts here about sites that have recovered, and what the content of those sites is like, I've questioned my decision to no-index pages.
My Google traffic is half of what it was last year at this time. But I've also no-indexed just about half my site.
I'm going page by page in GA, looking to see if a particular page got a reasonable number of visits from Google (at least 2-4 visits per day) pre-Panda and post-Panda through March 30th or so, when I'd no-indexed a lot of pages. If the page had gotten visitors during both periods, I'm indexing it again.
At this point Google can't take away much more traffic without just going to zero, so there's not much to lose.
I've tried adding reviews, videos, historical information, performance data and tables, and other useful information to various pages, but with Panda being a sitewide penalty/demotion/whatever, there's no way to tell if those are helping.
If I see visitors coming from Google to these re-indexed pages, that will at least tell me that the pages weren't entirely at fault. If traffic overall declines further, then I'll know that those pages should be no-indexed again.