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On the other hand, there is no connection between your site PR and your SERPs. And yes you are right; a lot of people with Google toolbar installed consider a company with a higher PR website is more reliable and an information site with higher PR is more trustworthy.
In the end of the day, not every internet surfer is a SEO who do know the PR algorithm. They just count on what Google says about its PR being some sort of a factor for evaluating sites.