Yup, this can seem like ages especially for those that arn't familiar with PR updates. The wait for PR updates seem to be getting longer and longer. My best PR ever for a site I created is 2 with little effort and only a hand full of backlinks. I started working on a few more websites, mostly just for kicks and fun , which I'm almost sure will eventually be at least 4-6 PR.
PS - It's almost funny how so many people worry about PR (including myself) even though Google clearly stated that Pagerank does not affect ranking and is for entertainment purposes only.