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Google says it does'nt matter much but honestly I think it does. Inftact all the sites with good PageRank have good SERP positions. Check the comment section of this article Matt Cutts himself said:
http://www.mattcutts.com/blog/why-did-my-pagerank-go-down/
"the drop in Toolbar PageRank is an indicator of the decrease in our trust of the site."
Btw, ITWORLD has 7 PageRank. :P
Answer
Google says it does'nt matter much but honestly I think it does. Inftact all the sites with good PageRank have good SERP positions. Check the comment section of this article Matt Cutts himself said:
http://www.mattcutts.com/blog/why-did-my-pagerank-go-down/
"the drop in Toolbar PageRank is an indicator of the decrease in our trust of the site."
Btw, ITWORLD has 7 PageRank. :P