one of my sites is directory - each page is SEO'd (in a very minor kind of way - strictly white-hat) for the subject it represents. All sites are hand-reviewed with unique descriptions of sites linked - but --- it is possible that someone could look at it and think it is a scraper site (it isn't at all but you can't always tell what other people see).
So far had no problems - G referrals and placements all same as ever. A great number of the pages still come up top in SERPs for the terms I target. Meta tags on some pages contain the word directory - not seen any adverse effects (....so far). I use description, keywords etc meta tags.
Software is bespoke by me....All pages are static .html generated from a db when new links are approved.
I do run adsense on a large number of the pages.
Site has been up and running on current domain since '98 - was running on a different domain before this.
My nuked directory has the very same specification but it was founded march 2004. Please sticky me your website url.