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I agree with the above, this is a good idea that should do well if you follow through with it. The problem is many people have a good idea, then get frustrated and drop it.
I think that this site down the right column will be fine for advertising. Not many sites could get away with this, but this is one of them that can. Please do not ad google adwords here. I am getting so tired of seeing these on nearly every site. Sell your own advertising, and lay it out like google does, but please do not use the adwords on this.
The only problem I have with this, is in your left column you have a position for affiliates. All it takes to get listed here is a banner exchange, yet on the right side, I assume you will sell that space. I personally will exchange a link with you, instead of paying you. I still get the same amount of exposure from your site and I am paying nothing for it. Maybe consider changing this.
The last thing I would change is on your homepage. Behind the categories, put how many links there are in that category. That way I do not waste my time looking into a directory that may be empty. It may also encourage people to add their site if the directory is nearly empty.
8 out of 10
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