You can find some sites that has PR 0 and 1 but they have good traffics. It is also true. The blog or sites are penalized according to PR. They still got quality number of traffics because they have hundreds or thousands back links from other sites as well as hunderds of pages in GIP.

If you reach desirable traffics, it is fine to lose your Page Rank. But never allowed your site to lost your PR at the same time you let your back link away too.
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Go Zeal Dmoz JoeAnt Illumirate
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