Well, blogging is nowadays moving towards different direction. There was a time when people own a PR3 blog and used to receive paid advertising post offer for $30-$40 on average. And now it is the time when people get offer for $2-3 for PR blogs.
I think you must change your strategy according to the market situation. Now it is the time for adsense and other contextual advertising networks. And now you must pay more importance to the organic traffic of the website rather than the Google PR.
Google PR does not worth like it used to be 4-5 years before. There was a time when people used to buy Google PR domains and there was a good business at that time finding PR domains and selling for the people. Now even the automatic Google PR domain finder websites have very less traffic which can easily figure out the importance of Google PR.
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