I just came across this excellent post at WebProNews that brought to my attention a new video posted by the Google Search Quality Team. The video discusses duplicate content on Google and how it is managed. The best part is it once again highlights that Google does not penalize for duplicate content - it merely omits content that is redundant within specific searches. In fact, content that may be omitted on one search may be highly ranked in another search.
Anyway, it is worth viewing for anyone who may still be concerned and/or confused about how Google handles duplicate content: