Google is just getting through another round of PageRank updates (second for this month) and people are now starting to see that little green bar move up or down.
If you have an advertising model, I would strongly advise you to make sure any advertising that you are selling -- especially text links -- is labeled (i.e., "Sponsored by," etc.). And if you are buying links, stay away from link brokers. I strongly advise in the Search Marketing Lab to watch the placement of your link if you are purchasing link text advertising on another site.
Sites with questionable cross-linking schemes and spammy inbound links seem to be taking a hard hit also.
This has hit some of the big names like Forbes, Washington Post etc.
Sites most penalized are sites selling links, have spammy or questionable inbound links, and are not labeling the links they sell as paid ads.
Some consider PageRank green fairy dust so if you do have a PageRank drop, be more concerned only if your ranking dropped as well.
But take note and backtrack to check what you have done in the last little while to make sure you are adhering to the Search Engine Guidelines.
I would be interested to hear if this has affected you!
Nicole Ephgrave
SEO/SEM Expert