I just did a search on this, not to bothered about PR these days, but some new reports are saying this this PR update is a snapshot from May or June 2010, and this new measure by Google - delaying the update for a long time, is to stop new sites that are purpose built to sell links.
So if somebody built a new site in august say, they won't get PR or be selling any PR links.
Who knows though, and who cares, I'm in the SERPS ranking business, not in the link selling business - that's all PR is good for.