Presidents Day Google Algorithm Update?

I was chatting with a few folks who are convinced of a major Google update. David Ogletree was the first I know to spot this. So I revisited a WebmasterWorld and sure enough, since the 18th of this month, four more pages about a possible Google update.

Now, I suspected something was lingering when I wrote about the Possible Google Valentines Day Update but Matt Cutts of Google knocked me down with his comment.

But this truly does appear to be a Presidents Day Google update.

Roel at WebmasterWorld wrote:

A big drop in traffic over the weekend / last 2 days for me. Anyone else seeing this?

Followed by dozens of responses confirming this.

WebmasterWorld administrator, Tedster said:

I don't see this as a true rollback - some of the SERPs I monitor have a whole new configuration.

Based on this thread, I think this is the real deal.

Forum discussion at WebmasterWorld.