A lot of things have already been said about Netscape's dumping of their social news site to a new domain. What has not been pointed out (and is now coming up due to Google's late Page Rank update) is the loss of PR juice involved with being on the new Propeller.

Propeller, as a new site, has a very low Page Rank, as in zero. Their Alexa is hovering around 16K but they have a ton of incoming Yahoo links.

Current Rankings:
PageRank: Not Ranked
Alexa Rank: 16,049

Incoming Google Links: 0
Incoming Yahoo Links: 670,500
Incoming MSN Links: 0
Incoming Alexa Links: 3
Overall Incoming Links: 670,503 (Overlap is possible - Estimated 670,500 unique links)
Outgoing Links: 206 (Ratio: 0.000% - Each Link Receives Approx. 0.000 PR)

The former Netscape site has much better stats:

PageRank: Not Ranked
Alexa Rank: 533

Incoming Google Links: 129,000
Incoming Yahoo Links: 5,264,263
Incoming MSN Links: 946
Incoming Alexa Links: 24,502
Overall Incoming Links: 5,418,711 (Overlap is possible - Estimated 5,264,263 unique links)
Outgoing Links: 201 (Ratio: 641.791% - Each Link Receives Approx. 0.000 PR)

Netscape dot com still has a Page Rank of 9, you just can not see it above.

A lot (as in thousands) of bloggers tok over the old Netscape and covered the front page with blog stories. Part of the reason for doing this was the PR9 link you would get from Netscape. The other part has to do with the click-happy nature of Netscape traffic.

Many bloggers who made the front page on Netscape saw a huge jump in their Page Rank numbers. Now that those PR9 links are gone they are seeing their Page Rank drop. I have seen some go from a PR of 6 down to a PR of 3... OUCH!

So, as the new Page Rank numbers roll out don't be surprised if your numbers drop. It's not just about selling paid links anymore, it's also about the PR drop the sites that link to you are experiencing.