Well no, my main blog has gone from PR4 to PR2, though it's still 4 on some Google data centers. So what does this mean for me as a small time blogger? Well a few things.
First I have been using Text Link Ads on there and have been writing sponsored posts, the buzz is that these kinds of programs are the cause of all this PR loss, I know I'll loose money from TLA, but that ain't no biggie. The payed posts I'm not to sure on, I hope I continue to get assignments because they have been a great way to make money.
Second is probably the most important to me, I really hope I don't loose traffic because of the PR loss, but at the moment so far so good, traffic hasn't changed, for the moment anyway.
Other than the above I don't really care that I have lost PR, but remembering back on the last PR update, I lost all my PR only to have it settle down after a couple weeks to PR 4, here's hoping something similar happens this time.