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In theory a higher PR page should help your rankings more than a low PR page, however page rank is such a piss poor measurement of a sites value that it doesn't really work out. Almost all of my sites have no PR anymore, because I stopped hunting high PR links for them. They all rank better than they did before (still adding occasional links from relevant sites, no where near as much as I used to).
I think links are important, and I think that ranking #1 for google is very important especially if your website is just a money making site, not a website for an actual offline business. But don't fall into this PR rat race, go for quality, organic seeming links. In content, not using the same keywords all the time, sub pages, etc.
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Cheers, John Irving: My Blog
JLI Media: Social Media Marketing | Website Development (Link Coming Soon!)
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