Brad - et al - Ill repeat myself - PR (that you have access to by use of toolbars programs sites etc) means nothing in the Serps
Now if you want to talk about the real Page Rank that Google assigns to pages (note the differentiation between sites and pages) it certainly has some effect - although as a small part of the algorithms many inputs
The point Im trying to make is that trading links or accepting/declining the same based on what Google allows you to see is about the most useless endeavor you could ever take - sure 5 years ago it worked when Google still allowed you to see the actual page rank of a page through their directory listings from Dmoz, but other than that its disappeared
Fortunately I can back it up too
