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[edited by: tedster at 5:33 am (utc) on Sep 1, 2012]
How long until Google do something about this...?
The results I see are confused right now but the most prolific link buyers seem to be rocking.
Since the beginning of August our long tail dropped massively - I looked into it, and the SERPS were messed up with american and australian sites (we are UK). We are in a heavily regulated (by UK law) niche, and foreign sites are of no use to UK searchers.
Buy expired domains, turn them into topics of your choice (ones that earn good cash through adsense or leads) build some more links (buy links on networks) and within 2 weeks you rank #1.
It just gets worse and worse. In removing so much of my link profile, de optimising my site, changing URL's and link structure to try and get out of Penguin (all to absolutely no avail) my rankings for Bing have just about totally gone now too. This is my death sentence. I am just waiting for the tax man to drop the blade on the back of my neck now.