Whats up with PageRank?

My old home page used to have a PageRank of 5. Then I moved my website to its new location and initially it had a PageRank of 0, which was expected since I figured it would be a few days before Google could index and incorporate my site into its index.

A few days later, I did a search for my own name, and voila! The new site was above my old home page on the results page. However, the PageRank for my new site was still showing zero, while the old site was still 5. So does Google use something more than just the PageRank to order the final results?

I’m confused. Anyways, now my old site seems to be sinking lower and lower in the results page. Lets hope the new site picks up its PageRank in the coming months.

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