justdave - 6:09 pm on Apr 4, 2006 (gmt 0)
If you are focusing on PR, then you want to look at the PR of the page that actually has the link. If the page has a PR0, it is having no kickback PR benefits to your site. Of course, it is widely believed that reciprocal links have no (or little) value anyway. It's up to you how to proceed. If the link is relevant to your site, I would maintain the link regardless of the PR it passes to you. Base the value of the link on more than just the PR it supplies to your site.