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I don't think any pagerank is being passed on either. My site, which is fairly new, shows a PR3. That one link from the PR6 site should boost me to at least PR4 I think. (It's a small category with only 11 sites.)
I asked Google support about it, but they just gave me a very general reply: "link:domain.com" only returnes a selection of links to the site.
I would really like to have that link count. I am also desperately waiting for Google to update their directory.
Regards,
Christian