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If I understand your question, then the answer is yes.
If a given page has X amount of pagerank, it will pass X minus some Dampening Factor through to the links coming off that page. Divide this last number by the number of links off of the page, and you would know how much PageRank is being passed to another page.
If you link to a page within your site, then you are recycling PageRank within your own sytem. Because of the Dampening Factor, the PageRank eventually dissipates to near zero. If all links on a page are to pages outside your site, then you have sent all of that pages PageRank away, wasting it if you will.
A definitive answer may be somewhere in those long pagerank documents, but I don't think pagerank spirals into a black hole in these cases.
If "downloadables" that are indexed (ie. acrobat files) can earn pagerank, and keep it all for themselves, there would be a lot of very high ranking files out there. Do we see evidence of this?
Do you have plenty of inbound links? :)
JOAT