Looks like google is updating PR again. Most of my sites are experiencing an increase in PR across most google datacenters. This site, which is only a few months old, has jumped from a PR0 to a PR5. Not bad for a new website. Rankings in google have not a had a similar jump but that just goes to show you that PR doesnt have as much to do with rankings as people would like to beleive.
This PR update comes pretty quickly since the last update which was only about 2 months ago. Typically Google only updates PR every 4-6 months. Matt Cutts, “the google guy”, did mention in his blog that google may begin updating PR more frequently than they had in the past.
Its hard to say how this change will affect SEO techniques but it seems that it will be easier to get other sites to link to a newish site – rather than waiting 5 months till your site has the PR to attract other sites to link to yours.