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Methodman, you'll have a PR at the next update as long as sites are linking to you. That's simply all it takes for you to get somewhere above PR 0. PR 0 pretty much allows Google to identify your site as either brand new, dead, or severely penalized.
This is, of course, assuming you didn't do anything to actually get yourself penalized.
As others have said, PR is not the be-all and end-all, but it is still important (moreso than some give credit these days). If it is not important for your ranking in Google, it is still important because A) it is reflective of how many sites link to you (which will, in turn, get you more traffic) and B) it will allow you to move higher up in the DMOZ by their default descending PR sort setting.
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