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the two listings above me have a pr of 3 - so I calculate that if I outdo them in Pr I will outdo them in search result ranking
I have been looking over past threads but alot of the ones I come across are pre-2008
I've seen lower PR pages and sites beating higher PR pages and sites since I first started studying rankings, and I still see it today.
PR is such a general metric. Page A might have a PR4 from one PR5 link that was off-topic and with unfocused anchor text. Page B might have a PR3 from 30 on-topic low PR links, some of which contain useful anchor text. I'd expect page B to outrank page A.