Is Page Rank Irrelevant now?

Hubspot's latest blog post says that

"But Google Page Rank is now irrelevant. It is updated infrequently and at irregular intervals, so it doesn't accurately reflect your site's real-time efforts to accumulate authority and outpace your competitors. It doesn't reflect any relevant business results, like customers or leads generated through your website. Page Rank simply doesn't matter any more.

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Read more: http://blog.hubspot.com/blog/tabid/6...#ixzz0vhb5E9TJ "
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Ok, so if true does this mean back linking to higher level Page rank sites is no longer as important. Can the backlinks be to any PR site level? Google on 21 Jun blog post speaks about how to get quality backlinks but makes no mention of PR. http://googlewebmastercentral.blogsp...your-site.html

What are your thoughts?

In a way I so agree with this article that PR is not so important anymore not unless you are selling links. Being on top of Google will give you sales not the PR.

your right on the page rank data, so how do we determine the importance of a quality backlink - previously it was the page rank?

that makes sense - I am also of the belief that the more engaged the site, ie conversations, forums as well as how often it is shared seemed to be of assistance as well

No!! page rank matters the most. Higher the page rank, the more early your links will get indexed in Google and you will get a back link.

Yes, page rank has its own importance.High Pge rank shows quality of that page.