Yes, according to the great Shoemoney Google is updating the PR ranking. Shoemoney usually knows his stuff, so I believe him. Especially since he mention about a cool future PR ranking tool, which I ripped off (got the idea from Shoemoney) and plopped into this post. So go check out your PR rank:
Thank Shoemoney. It is my goal to rise up the google results for Shoemoney in case you were wondering.