Google's Panda update is bedding in nicely and through all the tears, rants and shouting by the losers it's clear to see the SERPs are all the better for the significant pruning that's taken place.
Pages of shallow content, pages which are little more than thinly veiled affiliate sales pages and all manner of half arsed, poorly written and valueless rubbish have been removed from the useful end of the SERPs, the first few pages.
Overall this is good a thing, the SERPs were being clogged up with rubbish and it was becoming common to hear people moaning about never being able to find things in the search results, it was also leading to a move away from search engines to social search and search outsourcing using twitter etc. Google was losing traction.
So, Panda has been developed to reward great pages and punish poor pages. It's possible to game Panda, if you know how and not many do yet, but a much more sustainable approach is to stop worrying about Panda at all and concentrate on creating great websites.
Why is this the case? Well, owners of great websites have for the most part been oblivious to Panda, their search traffic hasn't suffered and their businesses are sound. Is this not reason enough to create a great website?
Liberate yourself from Panda, Alligator or whatever other stupid name the next Google update's called. Well researched and well written, genuinely useful content will always work well so long as it's published using a search friendly web system and publicised through the appropriate channels.
Make your content something people want and need.