There are many directories on the web. You will need to come up with something that differs your directory among the others.
IDK that is a hard one to answer. Whenever I look at something like this I think to myself. What can Offer the top dogs cant or what can I do better than them. There would have to be a reason why your site is picked over osmeone elses.
It's a pretty saturated sector now a days, as others have said there's more to be made focusing on a niche, but even then I wouldn't be overly expectant.. Personally I think it'd be wiser to reconsider and focus your time and effort elsewhere! Good luck either way.
I would agree you have to come up with something that will set you apart from the sheep. Having said that, for a while I've been thinking of throwing something together to add on to my (to-be) network of sites just to fatten in out a bit(incase I decide to sell it some day). I'll probably do it some time after I finish my current project (which includes creating a CMS so future projects will be completed faster )
I guess its better for me to start thinking on working something else instead. Thanks for the replies guys. Really appreciated it.