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Anyways, all my ranking positions have remained the same if not dropped. Overall, since the update my links from google have dropped significantly.
Any insight as to why?
Your site might show a 4, but it could be a high 4 or a low 4. Furthermore, whatever boost the PR gave your rankings was factored a few weeks ago. If you track your results with logs, you might have noticed a change in the number of pure google referrals a few weeks ago. In my case, I would think that some of the change was due to the addition of new pages, but I also think that higher PR on a good chunk of established pages might have had something to do with it.
In conclusion: The number we get to see is usually dampened and is a number that is already old. Changes in the SERPS hapen before changes in the PR are apparent.
I judge this from (amongst other things) the fact that pages on my site put up earlier than 14 Feb received an approriate PR, but pages put up on 3 March which were PR0 before the "update" are still PR0.
In an earlier thread Googleguy hinted this was the way things worked, although he was not specific about dates. I got the impression that real updates were going on all the time.