Thought will share some of my observations after the panda update.
All the sites I had wp unique installed lost ranking and traffic.
Uninstall wp unique, add unique content/ article,no links on the home page to duplicate articles and "no index" articles which are duplicate.
Any site which I had profile links pointing directly to the money site lost ranking
No direct linking, use parasite sites to build links to. If you want an instant boost, use a unique you tube video with an actual human speaking ( no animoto or similar)
Link building is no more a numbers game , its about gaining high PR links.
Use BMR and you will see what I mean. Or better use homepage link rentals. Forget about link wheels.
Social bookmarking and social network links are back in action
Don't go blasting the internet with bookmarks. Use sites like microworkers or amazon turk to have unique IP ID bookmarks.
If you are using social bot or bookmarking demon make sure you use proxies or multiple accounts. Socialmonkee shows promise within the new breed of bookmarking services.
Increase internal linking within the site. I tried a site which had no internal linking and started using random internal linking and noticed some movement in ranking.
Use social media to the maximum , Google has openly declared it. Facebook likes, +1's, twitter and linked in will play a bigger role in ranking ( any social media for that matter)
As a disclaimer, these are some of my observations, I could be miles off target. So keen to know what your observations are.
Lets beat the Panda together