What to do about "Penguin" penalties?

[RonMedlin]

What are your suggestions about moving forward with sites hit by the "Penguin" penalties?

1. Wait it out and see if the penalty goes away
2. Try to remove spammy backlinks and resubmit (is this worth the time and effort)
3. Build quality backlinks to offset (will this even work if they have thousands of spammy links)
4. Blog more (I think this is probably a no brainer)
5. Scrap the site and start from scratch (This is last resort and don't want to do this if at all possible)
6. Or any other ideas are greatly appreciated

[InkCartridgesFast]

Get higher quality content, blog more high quality content, get higher quality links, make sure your onsite SEO is done correctly, remove any spam/copy content.

Although if you have thousands of spammy links you maybe stuck a bit... (I've read on another forum (BHW) that a few people have 301'd there way out of the penguin update!

[RonMedlin]

By 301'd their way out what do you mean?  Do you have a link to the post I can read?

[InkCartridgesFast]

Was somewhere on http://www.blackhatworld.com/ worth a look!

[KeriMorgret]

Dr. Pete has a good post about just this at http://www.seomoz.org/blog/penguins-pandas-and-panic-at-the-zoo.