The other day on the Bing search blog, Bing's Michael Basilyan posted a nice amount of detail around how their algorithms determine content quality. In the Google world, this may be similar to how Google's Panda algorithm works but not exactly, as you'd imagine.
Content Quality is a key component to Bing's ranking algorithm, in fact, it is the top three components along with topical relevance and context. So what makes up content quality?
Bing tells us it is made up of authority, utility and presentation.
I summed it up on Search Engine Land in detail, but here is the graphic that sums it up for you guys faster, since you guys understand this better.
Reading this is a must even if you dislike Bing or only care about Google.
Clearly, there are some links to Google's Panda algorithm here.
Forum discussion at WebmasterWorld.