Yes, I believe there is one, hard to think Google would name a tool after one of it's founders and deem it to be "pointless"
But I understand the frustration it causes a lot of people. More a case of mistaken identity these days than anything IMO. Page Rank may not be the force it once was, but itís still used to determine how ďimportantĒ one page is over another by looking at the number and quality of the links pointing at it. Somehow that importance is factored in to the over all rank equation and we see some determination via the toolbar.
The search engines change constantly so it makes sense that Page Rank would as well. Itís not the strong factor it once but itís not totally out of the picture either. With the huge daily influx of information/pages/sites/feeds/blogs etc and the engines desire to provide relevant results, the idea of returning important pages takes a back seat. Yes, importance is *important* but itís difficult to assess short term. Itís why most toolbar green builds over time.
It took a long time to convince people there weren't 300 top search engines to submit to or you need a keyword tag to rank well. Page Rank will eventually fall by this wayside as well.
As for uninstalling the toolbarÖ. Mine stays! If I see anything other than green, Iíll investigate a little further. I wouldnít suggest letting it be your deciding factor when it comes to doing business with a web site, but itís a good and EASY way to start!