Web Directories Still Effective for SEO
It has been speculated that at some point links from directories would be discounted by Google. Many of my sites don’t have many other links besides directory listings, and they all got a decent PR boost during the last update. This proves to me that directory listings are still passing pagerank to other sites, however it can’t be proven whether they actually help for SERPs or not. Directory listings are a great way to get your site spidered and indexed faster, and also a good way to build permanent incoming one-way links. Just be careful not to rely on them too much in case Google does take action against them sometime in the future.
~Wealthy Webmaster