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rogerd - 2:03 pm on Aug 22, 2001 (gmt 0)
One plus is that you can often control your link text more easily in a niche directory than you can in Yahoo or LS. That is, Yahoo may restrict your site name to "Acme, Inc." if that is the company name, while you might get "Acme Steel Widgets" into a smaller directory that's not as fussy. Niche directories that have spiderable pages and links are clearly more desirable than ones that have dynamic pages with complex query strings and impenetrable script links.
Agerhart is right about on-topic links being valuable. Niche directories are often good link sites, since, going back to the hub theory, they contain many outbound links on a single major theme and may also be linked to by many sites.