There are some interesting facts i found out which i will share with you one at a time. For you to understanf the basics here is Rand. He has done a good job of consolidating the information.
http://www.seomoz.org/blog/how-googles-panda-update-changed-seo-best-practices-forever-whiteboard-friday
After you have understood a little bit more let me give you a quick clip from Matt Cuts.
http://www.youtube.com/watch?v=1_jm_isupFY
The interesting part is that google tweaks its search all the time. The panda is also a normal tweak but more user oriented. To really understand the Panda or even google for that matter it is important to read between the line. Google wants to eliminate the trash from the web and give rise to original content that would be most usefull to the user. In other words google is marching into the customer satisfaction ring.
Now if your a blog with original content, and not trying to pump up some dark seo stuff you should be clear. In fact content is still king.
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