Heard Matt Cutts about penalization being removed and stuff. << Lies
Heard about Google getting soft hearted for directories. << BIG lies.
Anyways, Pagerank updated for the July’2008 and as it has been in the past half a dozen updates… it sucks again! I am not sure which algorithm are they running. No matter how much useful content or stuff you add to your sites, Google will at least screw you from Pagerank point of view! Thanks Big G. But i again suggest that you pull down this algorithm and pagerank as a whole.
And thanks Matt Cutts for the Joke on penalization expiring… It was indeed a good one. At least i fell for it! 
I am not worry about the July 2008 algorithms of Google. I think we should do what we can do for our site and rest of the matter should be left on the desire of God. Our efforts will definitely bring success to us.