Google has released an updated iteration of their Panda algorithm. It had been roughly 10 months since the previous rollout and unlike previous incarnations this one appears to be in no hurry. Usually with the large algorithmic updates like this, there are significant shocks felt by webmasters more or less immediately. On this occasion Google themselves are quoted as stating the full effect of this update will not be felt for months. What this could possibly mean it is only conjecture, the complexity of the algorithm may be such that Google lacks the CPU runtime to roll this out in its entirety or they are conducting a more thorough undertaking, perhaps analysing more than just top-level data (further than the first tier).