Apparently, most of the sites mentioned in the old blog whose PageRank fell, have gone back to almost the same PageRank, pre-update.
"Some sites and networks still have a penalty, as do some sites. Some of those penalties seem to be a carry over from the first Google slap 2 weeks ago, and some seem to be much newer. The changes could easily be written off as changes in total linkage compared to the remainder of the blogosphere, but it seems like Google have given a penalty to those they could get away with."
In this regard, Problogger's Darren Rowse writes that:
"I've had confirmation now from two sources at Google that this latest round of updates was ALL about the selling of text links. You can see Jeremy Twittered the same thing here. Some of those who have had their updates reversed today were falsely penalized for selling links (like ProBlogger which used to do it but stopped months back).
This latest furore has all been about the selling of links and is a warning shot to bloggers and webmasters who engage in the practice. Of course not everyone who sells links has been hit (there's no way Google will get everyone) but it's a sign of what Google are continuing to crack down on."
Do take a dekko of Andy' historical toolbar PageRank table.