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I have always thought that as page rank increased the dependancy on it through the algo also increases. for example 2 pages about widgets one has a pr1 the other has a pr2 the pr1 page has more keyword density so ranks higher that the page rank 2 site. then we have another 2 pages on foo. one page with pr8 the other with pr9 the pr8 is more on topic but the pr9 site still rises above in the serps so long as is is still relevant.