This update is harmless if you are using white hat SEO methods and providing a high quality site that users gain value from. Also another thing Google is looking at is user interaction with your site ie commenting, content submission, polls, and surveys. Make sure you have a good way for visitors to interact on your site and provide good value. That is all I have to say as most of the conversation has covered the rest. Cheers
I think hits to your site, bounce rate, how many people share etc are just as important as content and links.