I just have to start and say that Google's Pagerank is highly overrated by many, and it's regarded more as a "novelty" feature today than a useful tool for showing a sites importance (in many cases)
In the "early days" pagerank was fairly important, but today the visible pagerank (in the Google Toolbar) is updated only aproximately once every 3 months, so the visible pagerank can really be as much as 4-5 months old since Google updates the pagerank internally all the time...
Here's Google's official page about Pagerank:
http://www.google.com/technology/
Pagerank has nothing to do with pageviews at all, it's all about incoming links, and the pagerank of the page the link is on (and the number of links on that page)
Just one link from a Pagerank 9 page can give your site a pagerank 8, but it would require a ton of incoming pagerank 2-3 links in order to reach a higher pagerank on your site.
And having a higher pagerank will in no way guarantee you a better ranking in Google...
But having a higher pagerank gives you more "bragging rights" and it's also easier to trade links if you have a higher PR since most people still thinks it's much more important than it really is.

But higher PR sites are usually of higher quality as well since it normally requires a lot of incoming links to reach PR 6 and above, and very few low quality sites manages to get that many links (unless they are lucky or pay for higher incoming PR links..)
Quote:
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How do you get a higher PageRank?[PR]
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Quick answer: Get incoming links from high PR pages..
But don't focus too much on that, especially if it's for SEO purposes, since the anchor text (incoming link text) is one of the most important factors for SEO (search engine optimization) and not the pagerank of the page linking to you...