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1. That a 'Sandbox effect' exists and that this is a deliberate ploy by Google to delay new websites from competing in the natural SERPS.
This Sandbox effect apparently 'delays' the effects of new links pointing to these new pages.
2. That Google have a seperate and hidden PageRank system and that this private system is continuously updated behind the scenes.
The PR that is displayed in the toolbar which has not been updated for more than 3 months is no longer relevant and does not have any bearing on the SERPS.
Surely another more obvious theory is that the PR that is displayed in the Toolbar is correct and it is this very lack of an update that is also causing the 'Sandbox effect'?
Quite frankly, if a real "sandbox" could be proved, it would be good for my ego. Even in my small world I conduct experiments to boost my ego and prove the sandbox in my mind - for example the appearance of my full name (not a common last name) in the SERP.
I just introduced my full name on the articles I write about 10 days ago, the best page on my site ranks around 200 for my first and last name combination. Many other combinations of my last name appear well before the actual query of my first and last name. I am keeping an eye on it to see how it moves over time.