Most of the directories I've submitted to don't require a reciprocal but some directories offer faster submission and a better placement if you do so. However, many of these directories have no relationship to the website I'm submitting so is it actually bad for me to exchange links with them?
Exchange link only for those site that is related to yours. For directories, better to get one-way link only.
Don't waste your time for Directories. Because the page where your site will be placed, in most of the cases that will not be cached
Submitting links to the directories in NOT a bad idea.... It is a time taking process and also care about submission that only place your link to relevent and same theme as your site!!!!!! and also DONT submit in the paid directories...... Directory submission is useful for page indexing...........
I would be careful of some directories. Like if they seem like a spammy link farm or if their pagerank is zero. It means the are not doing something right.
Never link back to a directory that isn't related to your site (or any general directory). However, if its a good niche directory that would be of value to your visitors and you get something out of it like traffic or higher placement then trade the link.
I would exchange links only with DMOZ If you're so keen on exchanging links it's much better to look around and find related sites in your niche.
I did submit my website to Dmoz but some people say it can take up to a year before your website is added. Since my new website has to do with "free" stuff I submitted my site to www.TheFreeSite.com. Hopefully it will be added to their list because its been about a week.
It depends really. In some cases the mods are too lazy or corrupted and will make you wait forever. It's a whole different story if you know the right person (a friend of yours is a mod there... )