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I do directory submissions. Most, and I mean 90% of them, aren't worth two cents. They're just crappy link farms that used link buying to get some PR to get interest from webmasters.
The other 10% are decent and worth the time to submit to.
But, I pay someone to submit, so if it's free, I'll drop some sites on it. It doesn't cost me much, so I'm not too concerned with the results.
As to directories that charge, that's a different matter. There are a *few* good ones out there. Many charge and don't send a lick of traffic. Again, they try to sell submissions based on PR rank rather than listing/traffic value.
I'd be FAR more willing to pay for a listing on a site that's for my industry over a general link collage any day--provided the traffic, incoming links and other requirements are there.
But, that's just my take.
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