Link Building PR versus topic

[petersen]

Regarding link building, what counts the most in terms of PR and relevance(topic). Is it whether, the link comes from a domain/page with high domain/page rank or that the link come from a domain with similar/relevant content?

I know, we should always aim to get links from domains with both relevance and good page rank. But which is most important?

For example:

If we have a web site about swiss made watches. Should i focus on getting links from other domains with information about swiss made watches. Or can i achieve just as good link juice, by getting links from un-related web sites with high PR?

We will of course get more qualified traffic from related domains. But from a pure search ranking, what plays the biggest factor?

[firstconversion]

I dont think there is a black and white answer here. Id persue everything topically relevant over a PR2.

[blackballonline]

Both are desirable.  I'd personally go with Domain authority and Page Authority over relevance if I had to choose. Links from monster news sites, mash-ups and other high traffic sites really pack a wallop. Need Proof - go to the Keyword Difficulty tool and check the top ranking sites for a series of terms. We have found some result listings that have little to no relevance but massive domain authority which carries the day.

FYI Use the Mozbar plugin when logged in to get more accurate data than PR. Or if you're getting really down and dirty go with The SEOMoz Linkscape Tool and run an advanced report by site links.