| P.S. Just an example. I had a free site with P3 and about 200 uniques a day. After that I removed the old content (design) and turned it into a morphing splog (WordPress + CyberSEO). Google has lowered its PR to 1 because it doesn't like "radical changes" on established sites with old domains, but... now I'm getting 2000+ uniques daily. So in my case: lower PR = more traffic. I believe it's because Google has changed the the trustrank as well since all the content now is "unique" and non-static. 
				__________________Obey the Cowgod
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