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>does a site with PR 5.4 rank better than a site with PR 5.2?
All else being equal then yes.
Looks clear to me that it is rounded down. A good use for the G! directory is to see what sites have [for example] a high 6 or a low 6.
I think you're right. My home page normally shows a PR of 6 but occasionally jumps briefly to 7 during updates. So it's not unreasonable to assume that the page is a high 6 most of the time, and that (for example) 6.8 would be shown as 6 and not as 7.
My site has a PR of 6. Nearly all other sites that I consider my serious competition are also ranked 6 or lower.
My question is: what does it take to move a site up a rank at this "PR 6" level to a 7? I know there are a combination of things that make up the PR ranking and am fairly well read on the subject. However, in the real world, what does it take to move from a 6 to a 7 and what areas could a webmaster improve upon to go up a level?
Also, in the "big Google view" what does moving from a PR6 to PR7 really mean?
Not only that, but the directory is scaled 0-7. It turns out ALL the 7 sites in the Google directory cat my 2 sites are listed in have a toolbar PR of 5. However, in the directory 1 of the sites has a directory PR of 4, while the other 6 have a directory PR of 3. When scaled 0-7, that 1 site obviously comes out a 4.1 or such, while the rest of us are 3.somethings.