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EatonWeb To Devalue PageRank

In what makes complete sense to me after the last PageRank update, EatonWeb, a directory that I know and trust, has decided to devalue PageRank on their own ranking system.
Here are some details from their own post on the matter:

EatonWeb uses a combination of metric factors to determine the value of a website. However, we are planning to phase out PageRank in our metric over the next 12 months because, quite honestly, we no longer feel that it’s an accurate reflector of site value. Not to mention the empirical observation that our directory rankings were more accurate before the recent PageRank penalties were handed out. We’re doing this for the sake of quality….the quality of our directory.

I saw many websites shift in PageRank in the last update, and many of them didn’t seem to be fairly judged by Google, making me think that more places using Google’s PageRank system as a contributing factor, might want to slowly pull away from using them as a key influence, at least until Google starts to move their system back to a content quality system, rather than what almost appears to be a random numbering system.
Did PageRank effect your site? Would you like to see more directories and systems that use PageRank as a valuation factor move away from Google?
(for disclosure sake, I better mention that it is part of Splashpress Media, the owners of this blog as well, but I knew of and used EatonWeb for far longer than they have owned this site.)