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"Minus one accross the board for index pages here too, despite breaking records for traffic month after month.
However... LOADS of internal pages now carry the same weight as the index page.
Several internal pages outrank the index page.
It 'feels' like something has changed, not sure what yet."
In looking over the sites more closely it appears that at some point since the last update the emphasis on home page importance has been reduced and individual articles are weighed more heavily. I can confirm a PR2 site with a handful of PR4 internal pages when before this update those figures were PR3 index, PR2 internal pages. No changes were made to site layout between updates.
I'd wager that the algorithm has changed recently.
edit:A page of mine that had PR4 and drove solid traffic from search stopped sending any traffic two months ago. PR on the page is now grayed out. There is one affiliate link on the page, always has been. The page was manually penalized for its main term apparently. I'd like to hear more from affiliate marketers on how their visible pagerank changed.
[edited by: JS_Harris at 6:07 pm (utc) on July 26, 2008]