PR doesn't mean what I thought

[semiprofessional]

When I look at the PR bit in the Google Toolbar in IE my site says 5/10. When I search for my keyword my site appears between 6-10th.

So does PR only apply after a search has been run, and all sites that mention the word that was searched for, are then sorted and then displayed?

I was thinking that PR only applies to keywords, but really it applies to the `value of the page'? so anything that Google considers a keyword on my page should rank comparitively the same to other keyworded sites?

[Chicken Juggler]

[google.com...]

PR is one of many things that go into how google ranks websites.