Google PR basically ranks a page on the basis of its backlinks and how authorative that link is. And high Google PR may boost ranking of the site.
There will be a changes in rankings on Google before the PR update comes.
Basically, Google rolls out a PR update in every 3-4 months of a year. And YES! Its 2012 first PR update. I hope that your blog’s PR must have been increased if not get some high quality backlinks.
Many pages of Geekscrunch got PR 2 and the point that is to be note is that Pages PR are the most accurate.
6th February 2012 PR update has been confirmed and is not a minor one. My two blogs PR got increased and there current PR is now 2. I very happy and hope that in next PR update, Geekcrunch PR will be 4.
Some Videos of Matt Cutts about PageRank you would like to watch-
If your blog PR got increased do share with us.