Google have been going through another PageRank update and it seems at first glance that many of the web directories have been affected.
Many low level directories have simply seen their child pages lose all PageRank meaning the only PageRank they have is on their homepage. This means that the appeal of buying links in these directories is now a very unappealing option for those who just buy links to influence the PageRank algorithm.
Effects have been seen all the way up to the likes of the Yahoo directory which have several child pages with no PageRank but most pages are still in tact.
But lets remember that the world is not Google and the directories are still worth being in for relevance, credibility and lead generation.