Historically there is little to suggest that Google will not proceed with a PageRank update in April 2010. Last year, 2009, there was an update on the 1st of April. The year before, 2008, saw 29th April as the date.
With no set or published schedule, it’s a matter of waiting (for webmasters and the SEO industry- we presume nobody else cares). For some people PageRank is everything, for us it is mainly a status symbol in SEO. We often see websites with a PR1 or PR2 out-performing sites with a PR4 or PR5.
It helps, but is not the be all and end all, and we would suggest forgetting about the Google PageRank update until you see it in your regular SEO forum posts or via a Google Alert.