I have thought a lot about directory business but I still don't have a clear picture of it.

As all of us have seen google cracking down some big directories for whatever reasons.

1)- Do you guys still think creating directories could be profitable?

2)- If yes, then creating one directory and working on it like crazy would do the job or you suggest creating a directory network?

3)- Or do you think Creating directories and expecting good money is just waste of the time.

I would really appreciate some good answers along with proper explanation.