This Google Panda update is influenced by webmaster and user feedback, which has allowed Google to eek out a few more signals to help Panda identify low-quality content. This will result in a higher percentage and greater diversity in search results, and will enable high-quality small and medium-sized sites to rank higher against larger and traditionally more powerful sites.
This is a nice touch from Google, as the quality of the content should be the ultimate deciding factor in a page's worth, not the overarching power of the TLD it comes from. Sure, great content doesn't exist in a vacuum, but just like each individual page has its own page rank, so does each individual page have its own on-page ranking factors, with how great the content is being by far the most important.
It is expected that approximately 3-5% of all queries will be impacted.