Directories still on the do list?
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on a new project do you still submit to some directories on the list?http://www.seomoz.org/directories
do they still add some value?
can they hurt SEO effort?
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This probably isn't the answer you're looking for, but my response is that if a directory is relevant, industry-specific, reliable, etc, it's probably worth completing a profile there.
On the other hand, if it's a general biz directory, looks like it exists for the purpose of SEO, doesn't appear highly for relevant searches, etc, it's probably not worth the time.
Grouping sites under the umbrella of "directory" it's pretty vague. After all, http://house.gov/ is just a directory. But it probably isn't what you think of as a directory when you think of internet directories.
Will submitting to directories hurt you? In most cases I would say probably not. Unless you're hitting the real bottom of the barrel.
It's more of a matter of resource allocation.
Hope this helps.