No, PR still serves a very important purpose. And remember, there is a difference between toolbar PR and actual PR.
I need higher SERPs, thats all. Give me back my favorite PR0 next update and 100 keywords of my choice in top ten
But in general, all this PR and backlinks that G shows us... all of this is usless to watch, not just because it's is old data, but as it is never a reallity.
Yes it's called website value. Time is money. What makes a site valuable is real people spending time on it. THAT is what drives SERPs the most. And it will be more and more the driving force down the road. PR is dead as we know it. Google won't mention anything so webmasters still waste their time doing link building for PR and SERP.
Google can't and won't kill PR because its one of the major factors which give it leverage over its competitors.
I think google likes it just the way it is. Look at the interest they have surrounding it constantly. controversy creates attention, and google continues to get constant attention with their page ranking.
you never know, the web does change over time, maybe google has a new thing that they want to monopolize and will dump PR
Yeah, right... but how? This is based on some 'ideal' base but reality verify all. There is no way to make perfect algorithm. At least - there is one, very important, and positive element of this story: Humans can still beat computers.