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tedster - 2:37 am on Apr 30, 2008 (gmt 0)
The fact that Google eventually exports a more recnt "snapshot" of that data to the toolbar has no present time effect on ranking. [edited by: tedster at 3:18 am (utc) on April 30, 2008]
A PR update is only an export of data to the toolbar. Any ranking changes due to shifts in PR were already happening -- because the "real" PR values were already being used in Google's calculations. Behind the scenes, Google is updating PR and other link-related factors continually, day-by-day-by-day,