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PR is only one, of possibly thousands of elements, that make up SE ranking algos. Their weight, especially with Google, has decreased over the years. However, they still make up the core element as well as bringing targeted traffic.
You only need to be concerened about IP addresses etc if you are cross/inter linking between sites you own. Even then, if the links are on-topic and of use to the site visitors there is likely no problem.
Don't waste time chasing self-serving type links from Blogs, Forum Sigs, Guest Books ect. While they may hold some click value their PR and Anchor text value is little to none.
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