Here's an idea, if the site was making 200$ a day with a top position, why don't you just start an Adword campaign.
If you target the ad properly you can get over the fold and maybe even make more money than before.
Google is the internet Feds of bogus links. I don't know about your links, but I have a thought; Google placement is priceless, but never forget Yahoo! or MSN. Yahoo! values links more than anything, but they also love content. Get top rankings from Yahoo! and MSN to force google to recognize you as a player again. Keep checking links to your site on Yahoo! by typing in the seach box [links:http://[URL="http://www.yoursitename.com"]www.yoursitename.com[/URL]] this is not a link.
You probably know all this but I thought I'd throw it out there anyway.
