Page rank is totally meaningless if Google doesnt return your site for searches people enter. I have dozens of sites that are PR6 which do not appear for Searches. They previously were ranked in the top 10 for the keywords I was targeting.
The Florida update and recent Google filter changes have nothing to do with PR. Being a PR 4 or PR5 or PR1 means nothing if potential players never see your listings when performing a search.
For example, do a search at Google for
Games
or
Casinos
or
Casino Games
Ideally Your Site should come up within the first 30 or so returns if you have any hope of getting traffic from Google for terms that seem to be what you would be targeting with your domain.
If you site isnt returned by a search then PR doesnt mean anything. If it is returned then life is good.
Thats the mysterious holy grail, how do we get those listings back? Getting PR is simple.