Directory submission has been considered one of the SEO techniques to get your sites ranked higher in search engines.
Directories are spidered by bots regularly to update their records and it is frequent visits by bots, which makes them hot spots for getting included and thus spidered. Submitting to directory in this way means more of submitting directly into search engine.
Now just submission doesn't help you. Submission has to be meaningful and in right category. Submitting a webmaster's site into directory dealing with dog food, will get you nothing much, rather disapproove your submission, so you end up wasting time and resources. Consider time waste as well if they disapproove say 3 weeks later.
So, while you submit, be careful where you are submitting. Will that category truely represent your site?
Also, it must be noted that directory submission is mainly for backlinks and to build a PR, not for traffic.
So, in a way directory submissions increase your backlinks, PR which increases worth of your site in long run.

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