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I don't usually post with "my site lost/gained etc..." but I thought this was interesting.
In the last two updates our backlink total declined by approx 440, and now has lowered us to PR5 (6 prior to this update). However, we have gained significant placing in Google SERPs, far better than when we had higher PR.
It seems that all the focus on PR, by way of backlink quantity, was in fact futile after all. All guestbook backlinks have vanished, and most of what used to be PR4 incoming links, that linked by banner, image or other non-text links, have also dissapeared.
Google has tightened their belt - trimmed some fat - lowered the bar. This is a good thing.
My 501(c)3 which gets over 2.5 million hits a month is fluctuating between a 7 and an 8 as we speak... its backlinks were cut to _one-tenth_ of what they were... but there were _no_ guestbooks in there before...
My for-proft is going from a 0 to a 2, but ranks in the top 4 for search results, much higher than PR 6/7's...
Odd, what's going on with the index right now...