Quick, probably stupid question. If I have a page which requires you to drill down to a 3rd level due to the quantity of categories on levels 1 and 2, will the SERPS for that 3rd level page likely suffer?
I notice that PR, for example, remains high if a link is on page level one and usually goes down by 1 for each page level down. I know PR is just one factor (maybe not important), but is hierarchy that important? Should you really be able to go to any page on your site from any other page (seems hard to me apart from using an html sitemap on every page).
Thank you and you can ignore this if this is too facile, though after Panda, nothing seems clear-cut to me anymore.