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OK, but you do suggest that Average Outbound PR is a metric that could be used to analyze a web directory. Can we agree on that?
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Most definitely.
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The PR shown by the PageRank toolbars or some other such utilities/sites is not a general approximation of the PR.
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For the most part - barring export delays - yes it is.
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Toolbar PR is virtually meaningless.
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I do disagree.
If you'd like to prove me wrong, just find some well known and respected sites with solid link profiles that have PR3 or less.
It's a useful metric - not perfect, not in depth, not an exact metric, but useful nonetheless. It's a simple way of seeing whether or not a website has link popularity.