Lost about 5 to 10 places on most keywords on 22 May with the penguin 2.0 update.
Not a disaster and have had no GWT warnings.
Have done a link audit and we have tried to contact webmasters for removal with obviously limited feedback.
So now we have the disavow file ready to be uploaded for those bad links that remain.
Just want to be sure before as our situation was not too bad and and the fact that we have had no warnings that this is still the correct thing to do?