I was relectant to admit it at first but my pagerank dropped from PR4 to PR0 even though i think i churned out better posts. My other blog buddies have also encountered this problem.
Not sure whether it had something to do with my paid post review. Anyway, as i mentioned before PageRank is only a tool. We don’t know what are the actual criteria for its ranking. Although i did said it is a brilliant tool (see In Defence of PageRank). I am now not so sure after they revised the system. It is weird that some new and not-so-updated blog gets PR4 while established blogs dropped to PR0.
Surprisingly, i was not so bothered by it. I am sure if it is a good measurement system, my PageRank will come back soon. If it does not, it is alright by me. I will still write good posts and continue this project.
I will keep my PHT original blog for a combination of posts (Web traffic, inspiration etc). I will publish in ProjectHeavyTraffic.com only Web traffic related posts.

Thanks for all your advice and comments! Will try to answer to each comment from this year onwards. Thank you for your understanding