As far as I am concerned, Page Rank does not effect keyword ranking. Page Rank has the ability to divert you off of what really matters and that is good content, with some regular keyword expression and also Link Building with your keywords as the anchor. I have found link building to be the best method of getting your site ranked well in the search engines.
It depends on traffic volumes of searches for those keywords, generally I would always aim to be in the top 4. I dont think being 30th will see you get much traffic at all... you need to be on the first page in my opinion to be worthwhile and if you get to the first page then why not go for the top and get the most you can!
Good luck, its hard work but rewarding. I have been working on one of my sites for over 6 months and have just got to number 4 in google for the keyword I am focussing on and am continuing to work on it so that by next year I am number one.
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