Well at the moment I have PR0 and in the past 2 month I managed to get it up on google search for a specific keyword on page 3 even that I have PR0 So is my website rank higher when google will update Page Rank?
The answer is "no." You should realize that PageRank (PR) and your ranking for a specific keyowrd are two very different and only marginally related things. You don't necessarily rank higher for a keyword as your PR increases. By the way, Google knows exactly what your current PR. The updating of the display PR only changes the PR indicator (the "little green bar") that visible to you (and others), but the update does not affect your keyword rankings even slightly. Sorry if this is not what you hoped to hear!
Another question, So if I got to page 3 with PR0 so that means when google will update it will get decent PR, right?
the SERPs is changing regularly even the PR has not yet updated. anyway i believe if your get higher PR, the serp can be improved as well at the same time.
If yor site got penalized then that would affect your traffic since your ranking on SERP will be gone.
Both are different. You should try to focus on getting more backlinks for your site and submitting your articles to high ranked bookmarking sites. Your PR will get updated in the coming PR update.
Most likely not.. SERP is totally independent from PR. Both uses different algorithms. But, you'll surely get some importance on google.
It depends on a lot of factors a lot of it has to do with your backlinking. With my backlinking it is not uncommon to go from a 0 to 2 in an update sometimes a 3. I would not be too concerned about it PR is a little overrated unless you site flipping or selling domains . If you are creating good content and getting consistent back links and all your off and on page SEO is in order you can often find yourself on page one with a PR0 site and stay there.
The answer can be both Yes and No. Each time Google update its PR does mean re-calculate links toward each site. Some links may have been devalued, PR decreased, and somehow the value passed by that domain have also being decreased too. If that's happen, your ranking may not stable if your site has a few links to rely on.
PR is one out of 200 other parameters that Google takes into consideration when returns search results. PR has impact on SERP, but very minor. Content, relevance is what has most of the weight for SERP. PR is just some kind of grade to your website, meaning how popular it is in terms of number of links to your website.
what would change are the rankings of the pages that are linked to your site. If you want to go and focus on ranking, then you should at the very least go for off page tactics with other sites that have high PR. Good luck!
The PageRank that Google uses in the algorithm is more complex and updated long before the so-called toolbar PageRank that you can see. By the time you know that there's been a PR update, any affect it may have had on your position in serps, has already happened