How do I Know What Sites are Good? • 03.13.08
First off, common sense usually goes pretty far. If a page or site links to a bunch of off-topic or low-quality garbage, you can feel safe, assuming the page does not pass link authority. If you have doubts, you probably do not want to link.
Secondly, Google has a toolbar that shows how it currently views a web page or website. The Google toolbar is one of the top search engine optimization tools for a person new to search engine marketing. It works on Windows and is downloadable at http://toolbar.google.com/.
PageRank is a measure of link popularity, which can come and go. It's not hard for a successful business to rent a few high PageRank links into their site and then leverage that link popularity for link exchanges. A site with decent PageRank can get penalized just the same as a site with low PageRank. Usually, you will want to error on the side of caution off the start.
Instead of making PageRank your primary criteria when evaluating a page or site, just think of it as a baseline.
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