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PR should only be used as an indicatore to how often a sites is indexed - it have nothing to do with SE placement (well - almost nothing) I have pr4 sites that get listed higher than pr7. Everything above PR4 is good.
as soon as you go PR5 and abowe, you should set the metatag to how often you would like to be indexed - or else you will get hammered with spiders and bots = slow site
"content and keywords is king"
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