Google has no plans to update PageRank
It has been suspected for some time now, but if you still think that Google will be updating Toolbar PageRank again anytime soon, you might as well think again.
They made it clear 4 weeks ago that PageRank is dead, Google's John Mueller, who has virtually taken over from Matt Cutts, said, "PageRank is something that we haven't updated for I think over a year now, and we're not going to be updating it going forward, at least in the Toolbar PageRank".
I wouldn't use PageRank or links as a metric. We've last updated PageRank more than a year ago (as far as I recall) and have no plans to do further updates. Think about what you want users to do on your site, and consider an appropriate metric for that
Google' Susan Moskwa suggested to focus on conversion rates, bounce rates, and click through rates, rather than PageRank.
So, it's pretty much official. Google will not be updating PageRank. For a year now we have been advising clients of this, of course a lot of so called "expert SEO companies" have been trying to say otherwise.
When looking for great web partners to share links with, look at the quality of content and the authority and credibility of the site. The bar in the Google toolbar will be vanishing soon.
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