Our team went to SMX West just down in San Jose a couple of weeks ago. Another great showing, and great to see Matt Cutts overview. The link disavow tool has become Google’s way to collect enough data regarding spammy link sites from the SEO community directly, we continue to find this to be pretty interesting. To be candid, we have not seen big results with individual sites that we are working on when we use the disavow tool. Cutts continues to say that Google has a pretty good grasp on assigning value to specific types of links etc. We seem to see better results from manually removing the links.
Here is a nice overview of take-aways from the conference.