Why Google Nixed PageRank
There has been a lot of debate on why Google removed PageRank from the Webmaster Tools, but Steve appears to have dug down to the core reason. He reminds us that there are more than 500 million variables to be considered when determining PageRank.
Steve writes that PageRank can provide meaningful insight, but overall it doesn't offer nearly the level of insight "actual digging and analysis" can provide. Think back to when Google decided to remove the "supplemental results" label in SERPs more than two years ago and the reason for removing PageRank will become clearer.