A very interesting comment thread was started at WebmasterWorld by a person having discussed the Panda algorithm with Matt Cutts at the recent Pubcon conference this November 2011.
Panda is just an algorithm, any site can (potentially) get out if it has been penalized. It just would need to improve its quality score….we remain cautious regarding the timeframe et the ease implied in this statement.
It is suggested that bounce rates, amount of visited pages and the time spent on your site by visitors are now part of the algorithm. If this were true, it is certainly another good reason to link your website to a Google Analytics account, regardless of it being your main traffic analysis tool or not.
The initial scope of Panda, to target content farms (hence it’s original name: Farmer Update) has of course developed into a broader scope where duplicate content penalties can hit sites which are not content farms (e-commerce sites for example).