Good but fading - participation is lower and new information is rarely the stellar stuff of a few years ago.
Pretty good for free. ;) But I let my paid subscription lapse quite some time ago and don't miss it. For paid memberships, Experts Exchange is a better value.
What is your OVERALL impression of the site?
I'm assuming these Feedback Days are most likely fueled by declining visits, posters, etc., so I'm going to be very honest with what I see here. No offense intended...
There was a time when Webmaster World was the most valuable site on the Internet for my needs, but now, I often find myself thinking of it as a somewhat crabby old man who can't stop reliving "the glory days."
Statements like "Webmaster World is the best" were once well-deserved, but such lines now seem parroted or cliched - kind of like that old farmer who insists he can plow as fast on his 1951 John Deere B as his neighbor can with his new-fangled combine.
I believe the site can survive and remain useful, but frankly, it needs some modernizing.
To start with, get a complete redesign that will be light, simple, eye-easing, non-distracting, but attractive. These are not contradictory attributes.
Keep a good linking policy, but loosening it up a bit (NOT to the extent of signature links!) would be more useful for everybody. (To me, a spam link is one that offers no conceivable value - but a link that helps me or someone else isn't spam even if the member who posted it is getting something out of it financially.)
Add AJAX buttons for positive feedback such as "Useful," "Accurate," etc. I'd personally rather not see buttons for negative feedback, but a simple "Report" button would do for cases of overt abuse. If negative feedback is considered necessary, a single "Not useful" button would probably do. The feedback system could be used for many purposes, both administratively and user privileges.
Keep things professional - no profile or avatar pictures, no signatures (or at least no signature links!) and keep a tight rein on language (I've been disappointed at an increasing amount of profanity here, despite the rules.)
Consider organizing threads by tags instead of individual forums.
Completely revamp the homepage - there's no reason for it to be only a list of forums and "featured threads." Add sections for "My Flagged Threads," "My Current Threads," "Active Threads," etc. (These could also be customizable so everyone could choose the lists that would be most useful to them.)
See about adding a "Weekly Conversation" or something - an Internet-related problem or conundrum of some sort, posed by the staff, which members could discuss in order to find solutions, work-arounds, and sometimes even just speculate about the future.
Modernize the posting process - and above all, put in a truly good system for posting code, including line numbering, indents, and syntax highlighting.