I've been running a few little tests to get my own test sites dropping in the Google results for specific phrases or words by mass linking with the same Anchor text.
All the sites have dropped for the phrases targeted,
The 1st dropped from 4 to 94
The 2nd from 11 to 101
The 3rd from 65 to 155
Coincidence, or is there a minus 90 penalty like the old minus 30 penalty?