1. Get rid of the obvious anchor text manipulation if its 40 or 50% of IBL.
2. Change your META tags
3. Keep your kw density below 1.5%
Weird? Since I have seen a real spammy looking site overtake mine and other webmaster's top spots.
I found one site which was not there pre-Penguin that has 5.5% KW density, has stuffed keywords.
I just checked the IBL anchor text and it is about 90% for the keyword.
No, they are not a big brand, small timer at best.
Their method from spyglass, 1 authority blog (domain) with 100s of blog 250 word posts and the same anchor text & along with an active non-spammy twitter acct.
I guess this goes along the lines of Blog Posts on good domains. Their future problem is relying on one site (a leader) for ranking.