How to recover from bad links?

[CommercePundit]

I come to know about this blog post by recent blog post on Penguins, Pandas, and Panic at the Zoo! I have very good experience with example number 6. Honestly, It's working without any issue towards performance and ranking.

But, I have very critical issue after implementation. I bought new home but, I have to hang Sign board with my old address.

I want to give live example with Google search result. I have removed my old website and set 301 to new category page due to duplication issue. Honestly, Who will like to mesh up performance in panda update?

There are 56,311 links & 551 source domains pointing to my old home page. Just see this one!

I'm creating quality links to my new category page where 301 redirect set from old home page to category page.

I have big mind bubble about display of URL in search result. Why Google shows old home page URL in search result? Does it require to create 56,311 + 1 links or 551 + 1 source domains to get appear my new address?

[Host1]

Just give it some time, if you use a 301 from the old url to the new one and report the changes via google webmasters tools it should update fairly quick. Should be no need to fix the links.

Edit (Fixing link instead of text):

See http://googlewebmastercentral.blogspot.com/2012/04/how-to-move-your-content-to-new.html