I wouldn't worry too much about DMOZ. I have seen where one of my sites was de-listed and another of my sites was listed and the de-listed site lost no rankings and the listed site gained no rankings. These sites were competing for the same keyword.
Best posts made by kadesmith
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RE: Competitor has a dmoz.org link
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RE: 301ing 404's
In that case I'd just make a generic "404 Oops Page" and not worry about 301's on the low quality pages. Spend your time on more worthwhile efforts creating great content.