Google’s Gary Illyes said that the sites affected by Penguin 3.0 will start seeing the recovery soon. This means Penguin 4.0 has started rolling out and the recovery will be seen son after the necessary steps have been taken to clear the link spam.
However this doesn’t mean you will get the same great rankings as you had pre Penguin 3.0 unless you have acquired high quality links over last two years. It’s just that the bad links will not count. Websites hit by Penguin 3.0 will start seeing the recovery over next few days.Google Rolling Out Penguin Recoveries,