How much is important to publish high-quality content?

After the recent Google Panda updates, webmasters and search marketers are questioning themselves about what has effectively changed inside the algorithm and how to increase their traffic. It has already been known that duplicate content has damaged and led to the drop of many sites that were badly recycling other sites articles, gaining high page ranks and, furthermore, using link farms.

The latest news is that Google is lowering rankings for websites that contain spelling and grammatical errors. It is a celebration for everyone that has invested on great and quality content that can keep the readers shuffling and engaging with web pages with useful information and a great layout.
Matt Cutts, Head of Google’s Webspam team, says the errors aren’t currently used as direct ranking factors but it would be fair they may become so. If he suggests that there’s a high probability that the company will consider this in the future. In the past it has been highlighted how vague and abstract headlines aren’t great for SEO as well the avoidance of the targeted keywords. It is a matter of fact that readers enjoy and share great quality content, this means increased average time on site, social sharing (Twitter, Facebook etc.) and social bookmarking (Digg, Reddit, Delicious).

In conclusion, a great content strategy (with targeted viral content) and great copy is the only way to stay in the game and sustain the growth in the post-Panda era. What will be the next step by the engineers in terms of content analysis?