So I opened the thread and the webmasters asked some good questions.
(1) Does it still have a strong positive effect?
(2) Can I expect some change or I shouldn't get that excited?
All good questions, questions we've been asking about DMOZ for years.
I mean, Yahoo shut down their directory so there isn't much legacy web directory out there these days.
Anyway, I had to share this thread because it brought back memories.
Forum discussion at WebmasterWorld.