Google doesn't have to abandon it entirely, but they should de-emphasize it. The first step is to stop reporting PageRank on the toolbar. Google usually takes p = 0.85. Then 1- p is the fraction of time that an arbitrary page is chosen. Google?s original intention was to show the public the value of a web page by showing it?s Google PageRank number. Originally, many years ago, when it was first introduced, that idea was a good one.
Google uses this relevancy ranking in conjunction with query relevancy to determine the results you see -- not only term relevant results but also sites others (as determined through link analysis) feel are important. GoogleGuy didn't say that the comments in the first statement are wrong. He said that toolbar users use the PageRank display to judge the quality of web pages. Google exceeds all international standards for the ethical treatment of its pigeon personnel. Not only are they given free range of the coop and its window ledges, special break rooms have been set up for their convenience.
Google considers each hit to be one of several different types (title, anchor, URL, plain text large font, plain text small font, .), each of which has its own type-weight. The type-weights make up a vector indexed by type. Google almost certainly performs many more. Googlers will claim that if you build something like myspace, you can catch up pretty quick.
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