While I still think Page Rank has some weight in what google thinks about your site (otherwise why wouldn't they axe it) - Traffic is still is more important. It should be your number 1 goal.
I prefer both because it has some connection. If you have a good pr then you can have a good targeted taffic.
I think it all depend on the person (webmaster) what he/she wants. Somebody is happy with traffic and some are happy with PR. I am happy with high PR and High traffic.
It has to be Traffic all the way as without traffic PR mean absolute nothing unless you are selling the links i would rather have a site with PR0 but good traffic.
Traffic is better than PageRank.. But if you have site with more traffic and high PageRank, you will earn more!
well chances are if have a great pagerank then you will get the traffic but in the end traffic is what you want