No it is not dead, PR still has value. But now a days people are focusing on PA/DA of the site rather than PR. As Matt Cutts has already said that there will be no PR update this year.
We don't know with certainty if (toolbar) PageRank has died completely yet or this is only a temporary "stasis", but Google's message has been this for years: a website's visible PageRank has little to no influence on the SERPs and it's updated so sparingly that's not even reliable; the real PageRank - the one implemented at algorithmic level - is updated constantly and has changed over the years with all the Panda, Penguin, Hummingbird and whatever new animal Google is going to use for its next update. So, really--- don't bother. The real PageRank will remain forever under Google's secret belt and it's not going to be released to the public. We only have a few papers available that explain how the original PageRank developed by Larry Page works, but that's all. If you're looking for visible metrics, then OpenSiteExplorer.org, Woorank.com and MajesticSEO are your best bet, because they take more factors into account for their calculations, not just Google.