There really isn’t any reason to rehash the importance of quality content. The Panda story has been told over and over again. If you want to rank with Google you have to present content that has real value for the visitor and delivers on the promise of the title (keyword phrase).
But just how do you define quality content? We know what it isn’t. We know that fluff stuffed with keywords will get you nowhere. We know that 350 word spun article that was so popular with article marketers is no longer a viable way to rank. And we for sure know that poorly crafted content, content designed to be read by spiders not humans is a thing of the past.
But that brings us back to the question of “What is quality content?”