Rae posted on Twitter, "@methode (who is Gary Illyes of Google) says panda happens "pretty much instantly":
Eric Wu, who was there, added that he said only after the pages are processed:
But what does processed mean? After they are crawled by Google?
We do know that Panda is a rolling update now but it has been over four months since a Panda update, at least based on my records. By update I mean, Panda sites seeing any ranking benefit or decline in over four months.
So it is possible that Panda is no longer a rolling update, no longer running instantly or so. Truth is, I am confused by the quote, I was not there, I am not sure if this is what Gary meant exactly or if it was misinterpreted. I am trying to get more details for a bigger story, probably at Search Engine Land.
Forum discussion at Twitter.