 There is value in PR even though many will disagree.Google PR does impact rankings, although not as much as it used to. You notice its impact more in highly competitive search phrases. That being said, a high homepage PR will filter throughout your site and will impact rankings on other terms as well. Plus PR also does impact your sites crawlability. That means a site will lower PR will usually have less pages indexed and gets visited less often by crawlers (I have insider information on this - trust me). That means sites with higher PR are considered more important and are trusted more by Google, therefore more pages get crawled more often and likely get indexed more quickly allowing them to rank faster than a lower PR site. | 
