Where is the PageRank Update?

As you already know the pagerank-update is missing. A lot of SEOs wait for it; can it be, that google deacitvate the update? Or is the time between the updates now longer at every time? (crazy thought; but google is unreckoned in things like that.)

In a lot of seo communitys like abakus internet marketing i saw 100 threads from young wannabe seos, which can`t wait. This kids think, that the page rank is the holy cow. Stupid..
So, let`s wait!