PR is not really important . Do good seo and PR will come
Actually, that is a common misconception, as if you want to build a real authority site status, it takes pagerank to do so, as it is still the point system google uses just for that reason.
It doesn't effect your direct SEO and direct marketing as much for getting ranked into google for the page position in natural search by direct ' quantity ' link building methods that worked back in 2005.
However, it does work if you want to establish credibility as an authority content and resource site in the given niche you are going after and DOES impact rank and position in the natural search, it is simply more so over long-term quality and longevity, not overnight boosting results.
It is simply google taking out the trash of the day, as anyone does.
@ SkyrocketSEO - good point.
It isn't ' directly ' connected to search result page and spot positioning - at first glance. However, it is still connected on the outskirt authority measure of the ranking of that site and fast the direct content is actually indexed over time, which in turn, then actually does directly effect the natural search results from then on.
It still plays a big part in the overall scope and in knowing that, it can be utilized to enhance your results in the long run.