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The time it takes to get your site listed in the ODP database can range from one hour to one year. The time it takes to generate an RDF file (http://rdf.dmoz.org/ ) from the listings in the directory database is normally one week, although a combination of technical problems prevented one from being created for several months. The time it takes from new RDF generation to appearance in the Google Directory ranges, but we often hear one month bandied about.
[resource-zone.com...]
It's a nice way to contact the editor in your category.
If you are already high on keyword searches, not likely that being listed in ODP will make any difference at all.
A while back one of our sites was dropped, and our PR actually went up (although I doubt that being dropped had anything to do with that). ODP is only one of about 300 inicoming PR4+ links to our main site, so its' effect is pretty much nil.