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It depends if the actual press releases, lead to more brand exposure via the people the content gets in front of, is info about the site then published elsewhere as well?

If used purely for link building, the value of so many links from the same domain will be limited, with the resources much better spent on more variety.

My advice to clients, is to only use press releases, when the site has something genuinely potentially newsworthy to announce.

I am not sure about the effectiveness of disavow, however I have seen websites go from rank 1 to page 5 and back in the space of a few weeks, after google penguin updates! The settle back down to a decent, stable rank.

Google will get the ranking algorithm working in time, however in the meantime, expect some dramatic rank rises and falls.

It depends if the actual press releases, lead to more brand exposure via the people the content gets in front of, is info about the site then published elsewhere as well?

If used purely for link building, the value of so many links from the same domain will be limited, with the resources much better spent on more variety.

My advice to clients, is to only use press releases, when the site has something genuinely potentially newsworthy to announce.