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Ranking for major terms hasn't shifted, most of my traffic is from many minor terms, and I can't see any change there either. Although I have to admit it's harder to be sure on the long tail terms.
With MSN and Yahoo having so little of the market share already, this decrease has me very worried. Past experience tells me never to rely on Google for a large portion of a sites success.
I'm trying to find ways to advertise that aren't a) going to cause a penalty in Google, and b) that aren't paid ads... The sites that I have that are still ranking are just free content, not selling products, so paying for traffic is out of the question. The only revenue is Adsense and a few minor CPA ads scattered throughout.
Another problem is that Yahoo uses Overture for advertising which is more cumbersome and less real-time than Adwords.
It seems that Yahoo is trying to aim its readership at teenagers and or chavs by covering too many trashy bubblegum news articles. The clock is ticking....
P.S. I don't work for Google and DMOZ sucks - it is badly abused by too many editors protecting their own self interests.