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Personally, I believe PR matters as much as the META TAG keywords do. Very little. If it is abused the importance diminishes. You can thank PR Brokers for it.
Things to consider is it seems PR is influenced by recent link activity whereas SERP's are influenced by link quantity and age. You could in theory get 10k links in 7 months. Get up to PR 6 or whatever. Then stop getting links and over time your rankings will go up while your PR goes down. DMC
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