Speaking of the awesome power of Google: I noticed that Google has just updated page rank.
I have been waiting for this for a while since I've been building and promoting a new website. I was glad to see that the main page of that particular site is already PR 1. This confirms that I'm heading in the right direction with my content and link building efforts.
I know that it's easy to place too much importance on page rank and that ultimately it doesn't have a huge effect on traffic. Still, it is a valuable measure of how Google perceives your site and shouldn't be forgotten.