There are user relied on directory, because it show listing by categories. Especially for user who have no idea what to search, directories provide them the idea find resource. In term of web ranking I not sure how it could help, but for web traffic.....it sure help.
I have found that the only directories affected by Panda were article directories. There is a chance that the cookie-cutter clone general directories may have been affected but their rankings would have been quite low already.
True, I ve forgot that panda was first nicknamed farmer. We should remember this when transforming directories. Improving directories with content will be tricky. We should be careful in not transforming them in content farms
I agree there, simply because directories offer a way to "drill" down to locate content in a consistent pattern.
You are right in asking a question that every one else has been averting from. Well certainly the value of the links that come from directories has decreased but still it wouldn't hurt to get your word spread around the web. Directories are one source of the results that appear in SE so they can't just ignore directories altogether.