“There’s always the chance that we’ll discount directory links in the future. What we were seeing was quite a few novice people would see the “directory” recommendation and go out and just try to submit to a ton of directories, even if some of the directories were lower-quality or even fly-by-night directories that weren’t great for users. Right now we haven’t changed how we’re weighting directory links–we’ve only removed the directory suggestion from the webmaster guidelines.
Matt Cutts, Bay Area, CA”