What do you think would be more beneficial, a PR0 link on a related blog, or PR4 link on related website. Or both the same
A blog is a website, so it really doesn't matter. If they are both equally related - then go for the PR4.
Is it a static website? Then don't get the link. Is it a blog that seldom gets updated? Then don't get the link. PR0 link ought to be free but if the blog is updated regularly - go with the blog - long term results (archives etc)
And reputation - the PR4 could be a horrible black hat site, but the PR0 could be a blossoming community. It all depends
Im not too bothered about traffic to be honest, but blogs always seem like a better option to me.. I'm buying through text-link-ads.com, so ill probably just end up buying both
don't go for the PR if both are related, check the number of backlinks each site (from where you are buying the link) has and go for the one with more quality incoming links
If it's an active blog, I say go with the blog, not something stagnant. Just be sure it's relevant and hopefully it will pay off.