Its known fact that Google has now got rid of Page rank option from web master tools. Due to this there is a lot of buzz on twitter about the credibility of page rank in the future ....Hence would love to have Your opinions please ...

See, we have been talking for a while, even Google don't want us too obsessed with the PR!

Exactly - this is because Google is always updating it's algorithms - making the current PR out-of-date or inaccurate... And more importantly, there are other factors to consider when looking for the quality of a page. For example, instead of solely relying on TBPR (toolbar pagerank), one should look for domain age/trust, freshness of the content, relevancy, and make sure the pages are crawled and listed in Google SERPs.

PR's been dead a long time. It has no significance in the SERPs anymore. It did once upon a time, for about three months, then it started to get manipulated.

Today, a well-optimized PR1 webpage can beat the crap out of a PR6 webpage vying for the same competitive keyphrase. For obscure keyphrases, I've even seen PR0s beat PR7s. Go figure. PR value doesn't mean a thing, nothing. It's some dinosaur left from after man developed the wheel. It amazes me to no end how some SEOs (well, link strategists) obsess over this and tout their excellence at manipulating this and convince clients that PageRank is the Internet pot of gold.

Hey Google, if you're watching, get rid of PageRank once and for all so we can move on with developing unique, important content. Do like Microsoft is doing!