Before I got my own domains I had my websites spread all over the web. I also had a site with Geocities. I still have it, but I do not use it for much else than linking to my domains. I was very surprised to see that my couple of pages on Geocities have PR6 and PR5. Of course I am not complaining, but frankly they are not worth it. I would estimate that PR3 and PR2 would be more fair.
Can it really be true that an obscure website with very few visitors gets a good PR just for being placed on Geocities?