I was in a cab when it hit, so I felt nothing. The streets are already so bumpy that a few more jiggles will never be felt. In the papers today, there were no reports of any major damage or injuries. Looks like they weathered this one without incident.
A major quake would be devastating to Manila and its confines. The homes that most of the poor people live in (the large majority of the population) are simple stucco structures with no reinforcements. They would all collapse. The people who live along the water in the bamboo structures would probably fare much better.