Think about this for a minute.
You know all those high PR pages people like to get links from? Those pages all started out with 0 PR.
Guess when it was easier to get a link from those pages.
I'm with ken_b on this one. You're looking at the PR of the page from a point fixed in time. Take the link regardless of PR.
I'm of the belief that a link on even a PR0 page has considerable trust value if your link is on the page for a long time, several years etc. Trustrank and Pagerank may not be one and the same.
Make your linking decisions based on relevance and quality, not the PR that the toolbar happens to be displaying.
If I may suggest another point:
PR0 can be an indicator if your link on that site/page will eventually be crawled and counted by Google.
If you pay for link hunters and they get you 500 links on PR=0 non-indexed pages, time+effort+$$$ was wasted.
Get 10 links on indexed pages instead.
There is one and only one deciding issue for me. Does the site have visitors who are likely to follow the link?
That policy has kept me on top for key search phrases and gives me a small but steady stream traffic independent of Google.
>> small but steady stream traffic
This is true but not for all sites. Some depend on the major search engines, and if they are in for small & steady streams of traffic they can find other ways to get it.
paitkow is on point. The value of inbound links is more a function of the content of the site pointing to yours and the anchor text used in the link itself. With the actual page rank of the page supplying the link of less importance.
There are literally millions of websites with well written and relevant content that have very low page rank. Provided these sites attract visitors that would be directly interested in your website, they make for excellent inbound (or reciprocal) link candidates.
You always prefer to get links from a page which talks about your subject or niche, that is more important to get links as opposed to get links from pr4 or pr5 page which doesn't relates to you
i tend to agree with JS_Harris about the trust of a site and page increasing over time, so that the link (can) become more valued. so don't worry so much about the page rank today.
anchor text of the link is quite important, as well as the text/context on that page which will hopefully be relevant to your site's content so the search engines see the link as being valued.
There is another thing you have to think, the difference!
Means if you get 5 PR 0 Links of your relevant site or if you get 5 PR 5 links of your relevant site then what will be the difference?
Definitely there is so much difference. Just you should collect good high PR relevant sites or good relevant PR 0 sites and have to watch the link's longevity as JS_Harris says.
[edited by: martinibuster at 7:40 pm (utc) on July 31, 2009]
[edit reason] See TOS and Charter. [/edit]
A rough and ready look at my recent site stats showed search engine traffic averaging just 1.4 page views while traffic from relevant links averaged 4 page views.
The search engine traffic dwarfs the traffic from links but that foundation of quality traffic which will not vanish at the whim of Google is worth getting and holding on to.
Most important is that link to relevant site with higher PR, because the more link you got from this sites the more important the google think you are.
i agree with "philoutsource09"
Choose the one that has content similar with your website and that will send you visitors who convert. It's all about content and relevancy.
It's useless to have 1000 visitors from a PR5 website that bounce from your website and convert only 10.
But great to have 100 visitors from a PR0 website and have 50 conversions.