I haven't been in the SEO game much lately and so I was just wondering what the experts have to say on this one lately ... is it better to have a sitewide backlink or high PR homepage / subpage link?

I would prefer home page link over the site wide, but if in your case the site wide deliver more traffic you could go for sitewide option.

Site-wide links are recognized and devalued by Google. Go for the targeted single link.

If SEO is not an issue and you want traffic go for the site-wide link.

Thanks for your comments. In the past I always tended to opt for the sitewide for SEO ... think I can get farther with a single link? Will give it a go the next time around!

If most of the pages of linking site are relevant to your's then you can go for sitewide as it will help you in SEO and site visibility (traffic) also check for PR of inner pages of linking site O.W high PR home page link is better.

Home page link is much better then site-wide links.

Inner pages links would also be fine as long as they are on topic.

Actually Google doesn't differentiate between home pages and deep pages. Each page is judged by its own merit and a link on a deep page can be much more valuable from a home page if the deep page is seen as a quality page on the topic you wish to rank well for.

link from deeppage is important if it is relavent to your page content and have a good pr.
You should also try to get backlinks for innerpages also just don't concentrate on homepage.