Well looks like Matt Cutts was saying the truth. In his comment over here on his personal blog a couple of days ago, he said

I wouldn’t be surprised if new PageRanks started showing up this weekend or so.

And PR has indeed updated, ladies and gentlemen. Some people have lost their PR, while others have seen an increase. On the face of it, it seems that many inner pages have been awarded Page Rank on this update.

Check whether your PR has updated by going to digpagerank.com ( My personal favourite for checking PR). There are loads of others, but that tool is my favourite.