I'd like to put a drop down menu on my home page that links to 30+ other sites (using as a quick jump to some band pages on myspace). Does anyone know if I'd lose PR by doing that or is it no different than if I were to have 30+ regular text links on that same page.
PR isn't based off of the links on your page; it's based off the links coming into your page.
It will have no effect on the SEs seeing the link to the other sites, so they will not gain PR from this method: Drop downs don't look like links so how will the SE know that it is a link? What the link is? Where to go?
I don't think you will have a problem at all. Just focus on link building and PR will increase.
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Drop down menus are only really advisable for specific action commands. I wouldn't use them for linking to external sites, although it's unlikely your PR will be affected either way.
I think its possible it could have some negligible effect, but if you do it in JavaScript, the search engines can't see it anyway. If you do it in CSS they can.
Should create no problems at all, PR is from incoming links. Drop downs can be good though always make sure you have a site map of similar also to guarantee all pages can be found easily.