Incoming link PR factor

Does the PR of the page you have an incoming link from have relevance or is it the PR of the main page of the site?
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Its the PR of the page on which the link is placed.

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This is one reason why you have to qualify all of your link exchange partners individually.  If you're going to be on  a links page buried deep within a website, you may find that the home page has a great PR, but the links page is just a PR1 page.  My policy tends to be that if the link page isn't one text-link away from the home page, it probably isn't worth it (although there are exceptions to this).  If you are going to exchange links, you want to get something of comparable value.
GaryAuthor Commented:
Tx just wanted to confirm it.
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