Both of these posts are wrong and gross oversimplifications of the modern algorithm:
It would lose 50% of its results after 2 or 3 Google refresh cycles, if it were a forum.
For domains with static pages, it takes longer.
There's not much in the Google algorithm that one can assign percentage points to like "50% of it's results." Moreover, rank for competitive high-volume keywords is much more important than simply the volume of indexed results. I have sites that have thousands of indexed results and they don't get as much traffic or make as much money as some of my sites with ten pages and great rank.
This, is the $64,000 question
I would say 3 months per cycle.
Google crawls my popular sites several times a day and my unpopular sites a couple times a month. Big ranking changes are happening all the time and there is absolutely no major multi-month cycle for it. Pagerank does take months to change but these days PR is completely meaningless. Even the infamous Google sandbox doesn't last 3 months for most domains.
Rob, if you want some sources for legitimate SEO discussion send me a PM and I will try to help you out. I'm much more into the paid search side of things but I can point you in the right direction.
FYI, response time, backlinks, content, and coding are all taken into account for the algorithm. I would try to get some SE-friendly content up there as soon as possible or 301 redirect the traffic somewhere that does so you can salvage some rank while you can. It depends a lot on the site, but if you're willing to put some time into your content, you'll get a much bigger payoff than giving the site up to a parked page.