I'm currently trying to get my site a decent ranking in the search engines. I thought I could get a couple of expired domains with a good PR and link them into my site or redirect them to try to transfer the PR.

Does anyone know, will an expired domain name retain its page rank once re-registered?

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Basher!

This can and does happen but it depends on several factors, how long the domain has been unregistered; if the links to the domain from external sources are still in place then yes the page rank could be retained once Google has updated.

One thing to consider is where the external links are coming from and the relevancy of them.

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Domainmonster.com Customer Support Team.
Domain Name Registration Information & Resources.