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I don't see why a small business owner should go to the trouble of running two websites.

As CD2 states - responsive all the way. I think anyone setting out to build a new website, or update their existing one, would be very unwise not to make it responsive.

More and more people are using their mobiles to get online, and the amount of well designed responsive themes you can use on platforms such as Wordpress, make it very easy for you to cater to mobile users. The page will adjust to the screen size, have touch screen capability and mobile/tablet friendly menus.

There really is no need to go out and build a second site, when a well crafted responsive design can do both jobs at once.

I agree with the sentiment to forget Pagerank and move on.

With the sporadic updates, (and the fact when buying used domains Pagerank is actually an unreliable metric), it doesn't make sense to dwell on what the green bar has to say for itself.

Moz Page Authority and Domain Authority, and the Majestic SEO Trust and Citation flows are far more useful in gauging the health and strength of a site in my experience.