PageRank is a number Google gives you which shows the priority of your website according to them. It goes on a scale of 1-10 (10 being insanely good). Ranking is just your website's rank in the SERPS (search engine results pages) for different keywords.
Ranking relates to the position of your your site in Search Engine Result Pages (SERPs). Page Rank on the other hand is is a numeric value between 0 and 10 which tells us how Google sees a page' importance on the web.
Ok can I ask the obvious, what is going on with the PR system, do you think they're going to simply stop handing out PR to everyone?
Probably won't happen, but I would love it if it did happen. The day I'm looking forward to is the day that computer technology is sufficiently advanced that the search engines can make accurate evaluations of web pages' content. There are technologies moving in that direction, but they are not there yet. Only then will content truly be king.
Page rank is a numerical value calculated by Google. The ranking process is unique from page rank in that it requires several factor. some common ranking include implementation , keyword rich content, regular update and a sitemap.
Yes Page Rank is a numerical value given by the Google to any Web page that may be very from 0 to 10 in numeric digits and you can check that in the Google Toolbar. Whereas Ranking relates to the Ranking of the keywords placed on your website.