Ys u r correct Page rank is important for selling links & people think if your site PR is high then its a very good site. PR and traffic is totally different thing boss. PR is page rank given by google..& traffic is that you work means you build link for website through that you get traffic & if that other sites have high PR then you will get little juice of PR.
I think it is more important to concentrate on making your site attractive to visitors so you want to link to it. You can not go wrong by making an attractive site with quality content and offers good value.
There are several blogs having useless contents but PR5+, you will consider them better than Digital Point Forums as DP has PR4 ?
High pr means Google gives more weightage to your site. Google like more your site. It is due to more no. of backlinks. Also it tells other that you worked more on the site.
I think the placement of links, the number of other links on that page .... trust of the page linking, the relevance of links all be considered (if it should not be considered) to rank the site .... maybe people will understand the neighbor link placement