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Its important to remember that there is alot more thats relivant than simply the PR of the linking site. For example the number of links on the page that links to you affects how much PR is passed.
My understanding from reading through posts here is that you can climb higher than the highest PR page linking to you. Keep in mind the PR1, PR2 etc is an estimation of your page rank and the actual page rank is not arithmetic, meaning the difference between PR1 and PR2 is not the same as the difference between PR6 and PR7 ...
The links are as you say additive and depend on the number of links on the page giving you a link, but a PR4 link is (something like) 4-6 times better than a PR3 link ...
hope this helps ... I'm still trying to learn these concepts as well
If X pages link to you, that each have PRX, then you get PRX too.
So, if you get X*X*X PR4 pages linking to you, each with X links, then you'll get PR6.
If you get X*X PR4 pages linking to you, each with 1 link, then you'll get roughly PR6 (a very small amount less).
This breaks down where those pages have more than some number of links (maybe 100). Some PageRank is lost in that case.
One of those contents pages is a site map that I have/am trying to give PR4 to about 80 internal pages. However, some of those pages only have a pr of 3, and they have been on for around 3 months. I am getting the feeling that I need to split the contents page onto another pr5 ranked page. From reading the forums this seems to be needed. Any insights available? What should a max no. of links on a page be to retain the 4 (ie 1 less from main page). It seems that the PR4 ranked pages are only because of other external links coming in to them rather than because of the internal PR generation.
Thanks.