Directory Submissions are one of the easiest ways to help increase votes to your site and give that extra weight in your Search Engine Results for the key phrase(s) you are competing for.
Directory Submissions have been long frowned upon as not having any or little value to adding PR value to your site.
It is true that more value can be added to your site through quality link building with sites that have less backlinks in their link directory, have a high PR and are relevant and are an authority on the subject your site is about.
None the less, Directory Submissions, as long as those directory pages are indexed by search engines can still add more votes and still hold some PR value that it will pass on to your site, even if it is a fraction of what a quality link back from an authority site with few outgoing backlinks. Links from other directories cannot take PR value from your site unless they are really dodgy or they are not submitted to relevant directories.
Best of all, Directory Submissions can help generate more one-way links to your site. So in you link building strategy, don't totally throw directory submission out of the equation, it is of value as it adds value to your site.
Think of it this way, your sites PR times the amount of sites linking back to yours. What's better? A PR3 site with 50 votes or a PR3 site with 250? Do your sums.
What's your view on Directory Submissions?