What are PRs worth? If a site goes from PR0 to PR1, 2, 3, 4, 5, 6, 7, 8, 9, 10 how much does it increase in value? I'd think a site increases in value because of uniques, returns, longer stays and more visitors who spend and I can't see how backlinks show this. Please explain.
Traffic is independent of PageRank. PageRank is determined by backlinks. Thus, a site with a high PageRank does not always mean it receive a lot of visitors (or have longer stays).
Pagerank is like popularity, the more incoming links to your site, the more popular your site is, thus your pagerank increases. Can't explain it any simpler
PR and site traffic are not directly related to each other. I believe PR is a trust rank of a site given by Google yet it doesn't effect the activity of the site.
I think the above is more accurate than PR being based soley on backlinks, a site can be penalised for building backlinks too quickly therefore it may have good SERP's but no PR
PR is basically a badge stating how popular your site is and by having a higher PR you normally get more respect from other webmasters or SEOs.
Traffic has no direct connection with PR. PR based from quality links of a site. And it doesn't mean that if your site has high traffic your PR will increase.
the worth of PR depends on how it is used. Yes, it can be very useful for gathering links and earn a profit out of it...PR is one of the factors a certain site you are requesting a with is actually looking (actually, this is only for those who has an evil plan with PR or obsessed with it). But for the site itself, it just indicates the value of how valuable your site is, considering the backlinks that your site has...