All PR gives you is leverage when selling your site to someone who doesn't know better. I bet someday it becomes important again though.
My site weddingbee.in only got PR1 even after many attempts. Kindly Provide some free good PR backlinks
It will all depends on the overall quality of your website. Correct amount of keywords, good quality backlinks from high PR site, and the good article
Yeah it doesnt always make sense, I had a site go live and within 3 days of launch it was a PR1 - my guess is because it was a dropped domain with age and a few links, but I really have no idea. I have much older sites that are still a ZERO but they make more money, so IMO PR doesnt matter at all.