Where PR counts.
Let's just say for instance, that you are in an incredibly competitive space for ranking. Maybe you are trying to rank for a phrase like “Appear on the first page of Google” I have ranked no.1 for that for quite some time. However recently someone knocked me into no.2 spot. I don't mind really, as the guy that did it, attended one of my SEO workshops . The pages were equal for SEO but his had a higher page rank, so it ranks no.1
So instead of trying to increase your Page Rank you should be increasing quality links back to your site. By quality I mean getting links from similar pages. This does a few things. Firstly it will generate targeted traffic back to your site. Secondly it will provide a path for the search engine bots to find you and thirdly it will increase your Page Rank but this should not be the primary reason to build links.
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