When i try this "Similar pages" feature on page rank toolbar, i get great websites not to mention digg, google, blogger as the top sites. Should i jump in happiness? Does this mean anything to my website? Please help.
Related:www has no importance at all. It only show what sites google consider your site is similar to.
It is useful. If you are related to sites such as Digg, you are more likely to get the higher PRs that they have. The 'related' function is how Google groups sites within its database. It is not given nearly enough attention.