Penalty is the wrong word to use, but some people will tell you that Google picks the "first" copy to display in the serps and some people will tell you they pick the "best".
My feeling is that it's the best one. It's impossible to tell which one was first anyway. The thing is most people just don't have the edge they need to be better than the original, so they put up a nasty spun version hoping G won't have to pick one.
Personally, I'll take a heavily optimized massive scraper blog that looks nice and functions nice any day.
The only thing I will say about this is I have a site with nothing, but horribly spun junk ranking #1 for a keyword with 113,000,000 results. the site has been up for a little over 1 year. I did nothing special as far as link building goes. Just the standard stuff everyone here does.
isn't it funny how the more horrid your content the more adsense clicks you get? I really wish quality had better results because I would love to show my friends and family what I am doing without the associated embarrassment.