You need to be aware of link partners and your link competitors on performing a search for your keywords. The search engines gives much importance to one-way link .Google gives Page Rank based on the number of one way link a web site has .More number of one way links in a website make it more reliable.
There are no outwardly visible effects of Page Rank offered by Google based on inbound link but it reduces the ranking as it checks the Page Rank of referring web site and trust rate of referring web pages. This means that if you have a back link from a webpage will no page rank then you are at no benefit by such inbound links.
Also Google looks to give better rank for links from .edu , .gov than links from .org and others. Somehow the effect of page rank is there and now Google is planning to remove page rank. The effect on ranking after removing page rank will be there or it will be only outwardly removal of page rank.
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