Page Rank Updated

Yes you have a point there - the more websites, the lower the PR is. I think the only thing you can use the PR for is to determine whether a website is violating some of the Google's guidelines.

From my practice I know that when you see PR 0, but the website is clearly around from a lot of time (you can check its authority for example), this is sign that there is something wrong with it, but still it is a minor signal

Typical, looks like the Google God was reading this thread, one of our sites seems to have dropped a point this morning!

That's 2 toolbar updates in less than 6 months.

I am seeing this as well with a lot of other websites. When I first saw that I have PR on my blog I checked out all thge other blogs I have as contacts. Most of them seemed to be doing really well - for example a friend's blog got PR 4. However a couple of weeks after that, the PR decreased to 2.

Since we are talking about the Google PR, I was wondering what are your favorite link metrics and why. Since we all know that the PR is not reliable as a metric for anything.

Its a good question. I use SEOmoz's tools to compare us against competitors, or for domain authority, linking research etc.

Yes I also use the SEOMoz metrics since at least they get update every month or so. However, I have to admit that I am quite dissapointed with their new update since in some of my client's websites I saw difference with around 500 000 links less when compared to last month. I think this tool is going to become like the Google PR anytime soon.

Do you happen to know any other ways to track link quality or the quality of the whole domain

Its a good question, but moving away from this thread topic, so have created a new thread for you:
http://www.mylocalforums.com/online-marketing-using-seo-sem-ppc/3573-what-your-favourite-link-metric-tools-why.html

My website's pr is increase from 0 to 2 when last time Google updated the Page rank.

google update page rank of pages but the old page rank checker from google is not supported by many of the browsers updated versions.

PR of my site is still same that is 2 No changes!