I think PR is a good indicator of site popularity. The higher the PR the more people there are linking to the site, if a site it not popular nobody is going to link to it and in result it has a low PR. Should change the name name to popularity rank and not page rank.
The irony is that webmasters are more concerned about PR. When my site was new, most link exchangers siad they wanted PR2 at least, now that it's PR3 I get tons of link exchange requests. Real pathetic
That's because the way PR are measured. Webmasters are so concerned with PR because advertisers give importance to PR. There is nothing you can do unless somebody educates these advertisers.
Check out my page at mybloglog. http://www.mybloglog.com/buzz/members/Guido61/ It has PR5 and 3 visitors a day. Your theory seem flawed to me.
We all know that there are tool that are not accurate. Even if they say that Google PR is a waste but it still have use to other webmaster especially to those who sell links..It depends on how we trust the PR..
Google should turn off the PR. There are new sites with very few links with PR5 and old sites with tons of links and only PR3 or 4. It's very chaotic and makes no sense. Not even in terms of backlinks, nevermind the SERPS. If they are against paid links, they really should stop this PR thing because once you got a PR6+ site, you will get tons of emails from webmasters who want to give $$$ for a link.
While page rank is useless to a certain way.. I must say that it still holds a high value in advertising cost. Higher pr sites with good traffic fetch higher ads pricing
You will see different answers, some saying that google PR is perfect, others will disagree. People having good PR will like it, others with no are low PR will hate it
As long as Google give out PR and allocate value to it, money will come in. Like it or not, people will follow the money trial.
Well, I agree with most people here, PR is only important to exchange links, but it doen't bring you any traffic itself. I would rather chose website with thousand visits and PR1 or PR2 then PR4 website, with few hundrid visitors!!!
1. The site with 1000 links is under 3 months old. 2. The site with 1000 links was penalized for link selling.