Depending on the type of site you have, PR can be important or not a big deal at all. If you're a typical paysite, you'll derive most or all of your traffic from affiliates, tgps, link lists, bulk traffic buys etc, not from search engines. If, however, you have a decent-sized free site and want to attract traffic that way, then PR and knowledge of general SEO (Search Engine Optimization) tactics are very useful.
I've spent the past few years building up this site and have been forced to learn all this shit. Check this board out for SEO. www.seochat.com. You'll learn all you need on that site.
Good responses here. Google the search engine calculates a number score for each web page is shows. If someone thinks you site is "good" it links to you. Google calls this a vote. Google records this in their database as part of your score on where the should place your page in their results. More votes = higher number for page rank for your page.
Page rank is both this linking/voting/scoring concept and also used to describe what a particular pages score is. "I have a page that is page rank (pr) 2, www..yahoo.com is a page rank 9..."
You don't want everyone linking to you- only sites with contextual relevancy and similar or better PR than you on the keyphrases your targetting. Other sites drag you down in Google and Yahoo
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