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If you have a links page and more than a few of those links are pointing to PR0 sites, then I have a feeling that your own site is at risk, or at least that one page from your site.
I've seen instances of single pages in a site having PR0 and the rest of the site is unaffected. Google does suggest that you not link to bad neighborhoods. In this instance PR0 is usually considered a bad neighborhood.
I've received many emails about the PR0 penalty and people have asked me to look at their sites because they were also PR0'd. In most instances, I found numerous outgoing links from their site to PR0 sites. Coincidence? I'm not sure.