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To start with yes I would change links with a pr0 page if the home page was a pr1.
You never know what the site may be in another 6 months and even a pr0 will give you a little ranking.
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Janeth is right on the money with this one. Today's PR1 home page might be a PR6 in a few months that is leading a PR4 or 5 links page.
Of course, if the home page is at PR6 and the links page is PR0, that raises a red flag. Unless the links page is new, there is very likely a penalty applied to that page and your link will be worthless from a
PR standpoint.
Another possibility is that there is no link to the links page from any other page on the site, hence there is no way for
PR to flow from the rest of the site to the links page (and no way for visitors to navigate to it making your link worthless). This is a trick that is sometimes used to get a one-way "reciprocal link".
As for the first question, a link on a PR2 links page is just that (a link on a PR2 page), regardless of the
PR of any other page on the site.
PR is page specific, not site specific.
A link on a PR6 home page will always be more valuable in every way than a link on a PR2 links page.
First of all, the home page will give your link more visibility and more click-throughs than you could ever hope for on a links page.
Also, your link on a PR2 links page would have to share the
PR wealth along with all the other links on the page (both internal and external).