Really I think you hit it. Personally I do not look for at page rank since the beginning of april I was page rank 0 and now it says I am not ranked at all but I am ranked in the top ten for make money free and the number one spots for makemoneyfree makemoney free and make moneyfree I just wanted to make the point on how little importance
PR has when it comes to the serps. Sorry a little off topic I look for relevance and content. It is rough though because placing a link on your website that points to a direct competitor worries me a little bit, but I guess its for the best.