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Some people call it Googles sandbox. They have a delay that especially affects new sites of around three months before the site will get PR. It doesn't seem to affect sites that are newsworthy, like the recent 'million dollar homepage' that went from 0 to a PR of 7 overnight.
Think of it in these terms. The web is a party and Google is the doorman. If it knows your face you get in. If it doesn't know your face hang out for a while, behave, then get in.
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