Whitey - 7:19 am on Mar 12, 2010 (gmt 0)
I think it matters very much as one of the prime drivers amongst the so called 200 signals Google looks for. In isolation it may not help rankings .
The other issue as mentioned here , is that a site is going to have limited indexing power without a shot of link juice. The green TBPR is the best indicator of that , even though Google's hidden PR may tell a different story.