I do not think PR may not have a role to play in SERP. It is associated in some manner. Otherwise what is the use of this PR thing. Ultimate aim for a search engine is to show the right sites on the top. Page Pr certifies google own ranking system perhaps.
great info.. this thread really help.. thanks for the stuff guys
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Jewel
"Our lives are not determined by what happens to us but by how we react to what happens, not by what life brings to us, but by the attitude we bring to life. A positive attitude causes a chain reaction of positive thoughts, events, and outcomes. It is a catalyst, a spark that creates extraordinary results."
PR was apparently updated today and from what I can gather, it may take a while to fully complete. Crossing my fingers right now as I have a lot of sites and I want to see the results of hard work.