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Search engine submission won't do much for your PR. You need to contact sites with content related to your own (if you sell cars, contact other online car dealerships, for instance) and ask them to link to your website. The higher the PR of the sites that link to you, and the more closely related their content is to your own, the better.
I'm not, however, saying that search engine submission isn't the way to go. PR isn't the most important thing--so you're definitely on the right path by getting listed on search engines. The next step, though, is to get other sites to link to you. This will both bring you a stream of targeted traffic (although most likely not as much as search engines will bring you) and will increase your PageRank.
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