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I'm not sure what to think. It seems that the most well ranked sites are big and change constantly so a directory type structure should be a natural way to get high ranking.
I've been playing with a directory or 2 for the last 2 months and they have no PR yet even with purchased inclusion from high PR sites. They say that PR takes longer to update these days but even though these sites have been indexed they are not getting a lot of traffic yet. There are free good quality directory scripts out there. Make sure you evaluate them before spending $500.
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