It doesn't seem like people are still paying attention to it. All I hear about lately is SEO/SEM and increasing your standing in the SERPs. So do you still keep an eye on your PageRank? I haven't lately, because it never seems to help me.
Personally, I feel that page rank is too unreliable to use as an indicator of anything. The best practice, I believe, is simply to try to get good ranking for the search keywords of your niche. With good ranking, your page rank should eventually increase over time.