Answer is NOPE.
Google is not updating its ranks but it is continuously in search for blogs who are selling paid links and is dropping the PR of these blogs to 0.
One blog of mine that doesn’t have a single paid link in it was slapped from 3 to 0. Google is really getting more and more ridiculous these days (this is for sure and a lot will agree).
Here are my assumptions:
I guess Google is not acting on reasons anymore. It will just drop your PR based on a single hint of paid links meaning, if a blog is associated with other blogs doing paid posts or if a blog is authored by someone who is doing paid posts in another blog. Do you get what I mean? So no blog is safe unless is it maybe owned by Mr. Arrington or other big timers in the blogosphere (Opps… John Chow now have PR 3 from PR4) . If Google suspect that you are doing paid posts or that your blog is aimed to do paid posts, you can most certainly forget about having a PR.
Vienna,
You’re right. Google is firing up its guns again. This time one of those hit was me. Not only that, top bloggers even complained for having a PR drop since some of them don’t have a single paid link in their site. Even news sites that do not engage in paid link activities were slapped by Google. Some of them from PR6 or 7 to PR0. Sound unfair.