To be honest, I was one of the first to sign up with the online yellow page giant, SuperPages.com. My experience...Very little transparency as to impressions, click throughs and leads captured. Why? Maybe because I was one of the first to sign up. Reports only came my way if I called and asked for them, there was no advertiser center for me to login to and view real time or even static reports. I based my data from my Web analytics reports that showed very little click throughs if any. Plus I maybe received two or three phone calls, all leading to nothing, over a year/year and a half time period. In addition, those phone calls did not convert, because I was not able to target specific keywords like you can with Overture, Google and natural search. This experience was very upsetting and had a negative ROI.
But, I am just one person, three other's reviewed SuperPages.com at a thread over at SEO Chat. One member claims "listings took 2 weeks to get approved and no traffic has been generated." An other member says "conversion rate is poor, cpc is a bit high, but we do pull sales. each sale has had a higher avg. ticket than other PPC sales as well." So there are always two or more sides to each story.