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Hey canz,
You may be right. Most things in seo seem to be conjecture, so I could be wrong about that one.
But I'm pretty sure that, with a clever linking structure, you can focus most of your pagerank on certain pages on your site. That Phil Craven article explains it pretty well. Pagerank is sort of like a popularity vote. You can make your all of your pages vote for your homepage, and that should boost it's pagerank. But if your pages aren't real popular to begin with, then their votes don't count for much.
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