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To be truthful, I dont think we will ever see an update again in the same way we used to.
I have a site which is at number 1 in Google now with a PR 5 and only two inbound links - one from a pr2 page and the other from DMOZ.
The Google Serp doesnt show it as being in the directory in the traditional sense I.E. with a dir listing - but its getting the weight from dmoz still.
I dunno - getting confused about all this.