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I'm getting a 403 error for the entire site at the moment (?) Could you double-check the URL? Interesting that you mentioned geo-targeted pages and that this happened around when Panda hit. Do you have a ton of pages of the form "[brand] [city]" (dozens or hundreds, maybe)? If those pages are very similar - with only a few details switched out, this is definitely the kind of thin content that Panda hit pretty hard. Google views those pages as low value, and can devalue the entire domain based on that perception. This wouldn't appear as an error in GWT, since it's an algorithmic action. Unfortunately, I can only speculate, without taking a peak at what Google has indexed.

You want to avoid this. It makes the link less valuable because it looks like a site you own. Both sites are on the same IP Address: 37.188.122.69 The important part is that they're both on the same C-Block - that's the technical way of saying that the third set of numbers is the same (122). You want to avoid that. Regarding nofollow - I only use that for sites that I don't 'trust.' If there's a competitive site that I don't want to pass link value to, I try not to link to it at all.