Personally I don't think PR is dead but I do think it is much less important in ranking than it used to be - like many I guess I used to chase page rank but now dont get bothered about it - I've got a PR2 site which receives many times the traffic (and links higher for related keywords) than two of my PR5 sites and one of my sites has dropped from PR5 to PR3 but now gets about five times as much traffic as it used to - go figure!!
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