Depends heavily on how much 'credibility' is wort to your site. $300/year might be VERY MUCH for a smaller site, or a site in a niche that does not rely heavily on it's credibility BUT I think it is nothing for your site being in the niche it is..
I wouldn't get it for the traffic. Depending on your site, though, it can be a very good deal for a highly trusted link.
That's one expensive link. I can find some other ways to increase traffic with that money and that would produce more conversions.
Really not worth it. Like someone said before, once you stop paying and your link is taken off, there really aren't any negative repercussions. I wonder how much longer Yahoo is going to keep shilling their directory, it seems to be getting less popular by the year. It was better when it was free, many years ago. Now, it's just a big waste of money and you don't even get anything else with it, such as metrics or activity information. The economy is to shitty to be spending so much money on trivial things. At least find a more worthwhile PR or article service if you need to spend $300.
Well I guess most people don't understand why Yahoo charges $300. If you manage to get in, after a few months you will see some clear results. It really depends on what category you submitted in, if you paid and got accepted into lets say a category like "Naruto"(which is a popular anime) You will see the benefits within weeks. Naruto being the #7 searched topic this year @ Yahoo.com alone, if your web site is in the category, you have a way better chance of appearing on the 1st page of the result page even if your web site doesn't have a good SEO score. Another category worth paying in is anything to do with technology. If your web site gets accepted for something like the IPHONE, within months you will see why people pay 300$/year. It works for some, and no for others, from my experience(I paid yahoo for 2 sites) it has been very very important.
Because they know the competing search engine checks out those links? (Just playing devil's advocate)
I know the OP said that Yahoo doesn't provide any data on why they believe this is a good expense, but it would be nice to hear from the OP what/if any value he might have received from the listing. Did it get him direct traffic or leads?
Overall, if you have the money it seems like you should go for it, but at the same time, I don't think the Yahoo! directory is definitely not a necessity nowadays
I looked into the Yahoo directory a few years ago but from what I remember for initial the $299 was only for consideration in the Directory and that was NON-REFUNDABLE
If you had success with your bussiness (website) listed in Yahoo I don't see why change that. About some SEO Companies said "we can do the same for $45", let me tell you that is NOT TRUE, they just want your money. I have most of my websites in the first page of Yahoo, MSN, Google and other search engines and truth me I know what I'm talking about.
I think it's more for sites which are just becoming established and need name recognition right away. For established businesses already having good rankings, probably not worth it to spend the money. But I remember when I just started out with one site, it helped a good deal.
I think it worth about $60 a year, would be reasonable. $299 is too high. Yahoo directory is not popular like it used to be. Not a lot of people use it.