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See, PR and SERP rankings are independent of each other.
You get good PR on the basis of quality backlinks. A high PR does not necessarily give you good traffic or conversion.
For SERP rankings, Google consider 100s of factors.. (social media reputation, backlinks, content etc..)
Matt Cutts has said in one of his videos that Google does not its users to get obsessed with PR. Its a popularity metric and you should not bother much about this PR thing.
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