Is this directory submission site worth the money?
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http://www.pegasusdirectory.com/directorysubmission.php
Has anybody tried these guys before or anything similar?
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The directory looks ok with a decent PA. I would just make sure you submit your site to the appropriate category.
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Is this directory submission site worth the money?
No.
Storwell, I think you are experienced enough to know a "good" directory from a bad one. This directory is clearly a bad one.
1. It offers a service whereby you pay to get submitted to hundreds of free directories. Awful.
2. If offers free links. I tried looking for some of the free links and couldn't even find them in OSE.
3. If offers paid links and lists them as "featured". These would be considered paid links by Google, they are marked by the "Featured" label and therefore would be devalued.
4. The directory has no posted standards, and as such would have any links devalued.
5. The site itself is very low quality. The PR shows as a 3. I rarely ever check a site's PR, but the DA of 8x led me to check and it just shows their DA is jammed pack with tons of worthless links to offer the appearance the directory has value.
If the site's home page is PR3, figure the first level category page is PR2 and the second level is PR1. In other words, even if somehow you got a link which actually passed PR, it would be a very low amount.
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I think if you're questioning it yourself, then you already have a big clue to the answer

I'm learning the hard way that quick attempts to build generic directory links in the past were very short lived, so building links from sites that I would use/visit myself is usually quite a good starting point, it takes more time in acquiring them, but they're going to be good for the long term.
Good luck!