1 month of struggle and 2 reconsideration requests later my site is back in SERPS. Its pulling in close to the amount it used to pull before.
How did it happen ? I am not really sure what triggered the change but it has to be the reconsideration request or the change in host. But i think the later is more responsible.
So this brings us to the conclusion, you don’t wanna host your sites on some proxy or warez host. Keep it in a decent neighborhood where the load time is good and update your site regularly. Show your site some love and google will reciprocate back. Nothing can hold a old established site with strong backlinks.