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However, I would argue that it is not completely worthless. If you look at 1000 sites and their respective ranking / traffic I think there will be some correlation between the two; maybe not perfect but PR6 site will most likely outperform PR2 site.
Why am I so stuck on it? I am interested in buying domains for their expired traffic (keeping the PR is irrelevant). There are 1000s of domains that expire every day, and I don't have resources (and don't want to get banned, by G etc. for excessive queries) - so doing thorough check on backlinks on every expired site is computationally unreasonable.
As an alternative, I am thinking about 'prefiltering' that huge number of domains by taking into consideration only a certain range of PR, and then thoroughly checking the results.
Does this make sense, or has PR become so worthless that my filtering will eliminate too many potentially valuable domains>
Inbound links have traffic value which progressively erodes unless you build a website responsive to the interests that incited the link in the first place.
Be mindful that there are scores of people playing the game and some have tools that you can only dream of having for evaluating whether a domain is worthy of pursuit and what the "right bid" is given traffic value metrics.
I understand that perfectly; however to some extent the PR (let's call it ex-PR since it no longer (or will soon no longer) exists) has some correlation to "historic" traffic. I am also aware that it is far from perfect, but it is INDICATIVE (that is why I used the example - if one site had PR2 , the other one PR6, it is more likely that PR6 site is going to have higher levels of traffic. It is certainly possible that ex-PR2 site may bring more traffic than ex-PR6 site, but I would venture to say (and please correct me if you think I am wrong), that if you randomly select 100 ex-PR2 sites, add their total traffic, and do the same for 100 ex-PR6 sites, the traffic will be significantly higher for the second batch.
"Inbound links have traffic value which progressively erodes unless you build a website responsive to the interests that incited the link in the first place."
Absolutely - that is exactly what I am doing.
"Be mindful that there are scores of people playing the game and some have tools that you can only dream.."
I have my own developed - just trying to make them better....
I have a PR0 site that has a high quality directory link and it has always recieved daily traffic of 30-100 unique visitors most of which are from that 1 link. I have another site that ranked(s) PR4 but only 5 or so visitors a day.
I guess the only thing a PR6 will tell you is that it probably gets at least a few visitors and that's it.
Just my limited experience with this though so not end of the story.