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I uploaded new pages on the well-established site of PR6 and immediately I check the PR on these new pages which got PR0. Googlebot has no way to grasp these pages on time. Also I uploaded a new site and immediately PR0 too.
If we don't consider that toolbar got any bug, then it looks like new pages or sites were default to PR0, rather than the guesstimate PR or grey bar that was before Dominic.
>>If we don't consider that toolbar got any bug
Considering that sites like uk.yahoo.com also have PR0, I don't think it's really worthwhile worrying about until the toolbar has sorted it's life out.
Remember also that the toolbar is not showing you 'real' PR which is used to rank pages, but 'guessed' PR which can be affected by any number of things.
I don't pay too much attention to toolbar's PR either.
Our site's main page gets over 1 million requests a month and the displayed PR is only 2. Regardless of the frame/no-frames version.