Genidude, but Google is always updating. So while the issues may not have caused problems in the past, the certainly could now. Also the statement that you haven't updated your site in a while is also a concern.

Content is a big key as well. New info, new items.

Did you lose other links recently? Did you buy links in bad neighborhoods? There are a number of things that could affect you, getting a few links is unlikely to be the root cause.

__________________
We offer a total eCommerce solution with eCommerce Web Design using Pinnacle Cart