I've noticed anchor text beoming much more meaningful, maybe even that PR if these could be considered seperately.

Many PR's of only 1 or 2 having the same or similiar page/site terms can mean as much if not more that PR's of 3 or 4 that don't this similiarity.

Only a general observation, going by yahoo link checks.

anchor text is the key. a variety of low power links with mixed anchor text from a variety of sites currently works extremely well in "the big G."

Does yahoo and google value anchor text similarly?

It's been my experience that a lot of inbound links and a lot of anchor text count a lot more with Google than with Yahoo.

Does yahoo and google value anchor text similarly?

Search for [miserable failure] on Google, Yahoo, and the new MSN tech preview to get a view of inbound anchor text at work by itself across several algos. Keep in mind that the engines cluster their results differently, and that some of the pages contain the phrase and some don't. The very top results are similar across the three engines.

I'm seeing this also in some searches I monitor where pages are ranking the same on all three engines, essentially for inbound anchor text.

On very competitive searches, I've observed that you need more inbounds on Google... and it starts getting much more complicated as other elements, like page content and partial matches on internal site navigation links, get factored in.