Benefits of PR (I am assuming it is the green bar in Google tool bar you are referring to) is zero. Is in not the actual representation of PR and is only updated once in a couple of months. So at any given time it is out of date. The actual PR which is calculated more frequently feeds into Google's search algorithm and in some way helps in achieving high rankings.
Some sites prefer that your site has higher PR, so I think one of its benefits is you can easily exchange link with other relevant sites.
PR is just good for your just launched product news not for money but it's good for your site event advertising
PR provides free advertising for your site and also targeted traffic because users are looking for information on the internet and search engine and if your site show up at the first page, people are more willing to click it and visit your website! So PR is very important to a website especially for those business type websites.
i agree with you...PR matters in SEO but not for the general users... -- also PR most of the time reflect the worth of your site...
PR tells you how reliable a site is, it also helps in a lot of ways like in SEO link building. But I prefer checking PR and Alexa of the site.
yes PR is only important for SEO and webmaster because numbers of users doesn't know about Google Toolbar, PR and other terms related to SEO... and i think there is no effect of ranking in Google having high or low PR....... SEO is very boring task........