Way back when one of my sites had a (real) PR7, but Google seems to have gradually devalued many older sites that haven't been updated, and it's been PR6 for at least the last 2-3 years.
Whether we like PR or not, it looks like G must use it as a factor in serp rankings - if it was pointless G would have binned it by now?
It's probably more that it's just lost links over time and not gained enough replacements to keep its ranking.
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