I wouldnt ever say they are not "important" but the value they hold is not huge. I recommend any site to submit to a list of directories because it would be silly not too, after all an easy backlink. BUT.... Dont invest all of your time with this. Stick to this: -Pick the most effective directories or you are wasting your time ( I have a post with the top 30 directories on my site) - Don't pay for them - Use the same branding for each directory, same bio same photo same keywords - After doing the top 30, move along to other means... Remember to generate good backlinks variety is key, a bit of everything will work wonders...
Yes it is important but not that much effective.Please focus on Article submission,Social networking and bookmarking. Google caffeine is giving more importance to it . I got result as well .