In early December some astute webmasters noticed that some of their longterm (in some cases many years) #1 or #2 ranking pages in Google now rank at #6. Just like with the Google -30 and the Google -950 penalties, some people will maintain this is fiction, but too many smart people experienced the same thing at the same time for it to be such.
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PPCblogger thanks for the update this is a great article written on Aarons site and has some very useful insight on the new filter theory. This Post also has some great references from others such as Randle, Tedster and JoeSinkwitz one the Webmasterworld Forum.
No problem - There were just to many smart people saying they were experiencing the same thing for there not to be anything in it.
Seen this too - wouldnt call it a penalty, as much as a filter - but definitely something to think hard about.