I'm getting the impression PageRank as shown in the green bar is becoming vaporware. There are sites that clearly bought their pagerank and continue to sell links to the highest bidder. This has been going on since April. A proper pagerank update would have solved this problem.
For example, I am looking at hyperlink on clear.gif on a pagerank 8 charity site, and the site receiving the juice has a pagerank of 7 and they have been selling links for months.
Another example, is a Chinese news site that has about 50 links they sold to casinos, pharma and other sites AND those sites are clearly receiving pagerank juice with pageranks of 6,7, and 8.
Looking at another site that is pagerank 7 that I have been following since April, and they have links they purchased from a popular server software company, and a template site, etc. Right on their site, they are then selling links.
I am aware of 2 of these sites being reported, because people said they reported them in threads discussing them on another forum.
I don't know if google is just ignoring the problem or what. It is one thing not to update the green bar, but quite another to ignore abuse reports, and allow sites to rank higher by breaking the rules.
And yes, I did check the ranking of these sites for their key phrases. Despite the idea that pagerank is constantly updated, despite what the green bar shows, I am not seeing this as being the case. These sites are ranking great!
So I see a number of ways to think about this:
1. Breaking the rules really pays off, and google doesn't even care anyway, so go for it.
2. Google has a backlog of reports and isn't able to keep up . Additionally, google is not doing any checking for abuse on their own, as these cases were easy to find. I could give you a dozen more.
3. Google is turning the green bar into vaporware, but just hasn't announced it yet.
4. Even though google is allowing dishonest people to manipulate serps now despite reports, they have a super cool update planned.
I'm left scratching my head here. I don't understand at all why clear cheats who are even reported don't get slapped with a penalty. Has google given up trying?
I would be happy to help, so if you are reading this google, I live 10 minutes from you! :)