Here is a great straight forward video on the major Google SEO changes coming fourth in the near and far future. As always a lot is quite vague and secretive but for the most part you can weed out some important details. As always they are discouraging away from buying links that claim to raise your PageRank.
Cutts is careful to note that any of this information is subject to change, and should be taken with a grain of salt.
Penguin
He does not specify any of the changes but says a new big version (2.0) is getting closer.
Updates To Panda
It sounds like they are becoming more friendlier in the new update. Sites in the grey area will not just get thrown to the wolves. They also claim links will not be as bad if they are from a spammy site. As long as it’s not your main source of identity, after all it’s not rocket science to submit your competitors sites to hurt their Rank.
Authority Sites
They will be adding more weight on the sites that have an “authority”. We have no idea what this is based on but my guess is the companies with the highest ad-words revenue lol. Bigger rarely means better in my experience, in fact it’s new independent thinkers that keep the internet perpetual.
I assume this authority will put more emphasis on forums and blogs, so track down the top ones in your industry and get involved!
Of course those are probably ran by an objective competitor anyways, just tread lightly and you might be able to talk a little about your site.
Searches with high spam rate.
Terms that get the highest spam will be targeted as well, hopefully web hosting will be added for our sake lol. Half the front page for the term “Web Hosting” is fake top ten web hosting sites!
My two cents.
It sounds like they are getting smarter and a little less cruel to the little guy. I also really liked how they mention that one site will not have more then one link on the first couple pages of Google. I feel like Matt Cutts is a well grounded person and understands the importance of helping new webmasters, hopefully we will see a new system that can separate new domains with spam and new domains with real sites trying to work their way up fairly.
For organic SEO help check out our services here: SEO
Good luck!
Charles Yarbrough