my own personal feeling is that since it insists on a reciprocal link that it won't do much for serps
but this is instant link approval.. and not just any site can be submitted.. ur page has to be on google for this directory to accept you? so that keeps the spammers out
t simply takes me too much time to post a link on a page so I can get a link back from your directory. Also, Google is not stupid. They detect and devalue reciprocal links. IMO, the only way you will get a substantial benefit is if you develop a lot of entries and the only way to do that is to offer free submission without a reciprocal link.