Directories have been good sources of one-way links for a long time. It is a one of the easiest link building method especially for newer sites. But quality is still the name of the game. Some pointers in selecting the directories to submit to:
High PR - indication that Google sees some value in the directory.
Well maintained - listed sites are in the proper category
High Traffic - getting traffic could be minimal from directories, but majority are targeted
Kewords ranking high in SERP - Well optimized, shows that the directory is well-marketed and SEO'ed.
Which to avoid:
Link farms that pose as directories
Directories that require reciprocal links
Crappy ones with crappy sites listed
What are your thoughts? Care to add more pointers?
Just to clarify - any link that passes link juice helps in PR. Even a PR0.
Think of it this way, it may have inner pages with PR0 today, but how about in the coming years? Got the point?
Directories with low/medium PR (that is, if you're looking to increase your PR).
You must go for Directories with High PR like 4 or 5 and above , proper Categary of which your site is related.
There is no harm done. Directory inclusion is like a long time investment. The page where your link would be included may have a low PR today - but a well maintained and SEOed directory would surely have its inner pages (category pages) PR increased overtime