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There is no doubt a Google Dance taking place. My site showed fluctuated then settled quite a bit. Keep in mind that people are right about the quality of backlinks as the driving factor. 1,000+ backlinks can be of less value than one quality backlink. Also, keep in mind that PR is not the end all and be all. In fact it is not even that huge of a deal in an of itself. The exception to that of course is those trying to sell links, where link revenue is oftentimes tied to a site's PR.
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