Is There Money in Directories?

I'm seeing paid directories with some 3000 odd listings charging $20-100 bucks a link. Now these directories are usually PR 5-7 with PA DA in the 50's and up. However, I am seeing some PA DA 30, PR 2-4 Directories charging $10-30 and getting a lot of listings.

Rather than targeting SEO brahs, what about making a hyper relevant sniper directory for a certain profession. One like medical where they know nothing of SEO and have deep pockets. Then charging $20 a link per year.

Would this work.

Potential Problems/Questions:

1) Driving Traffic?
2) Will Anyone Outside of the SEO world even search for a directory?

I've paid for links in directories, even in recent times. If I run into a tough competitor, I just copy their BL profile as much as possible (in addition to my BH magic), and if their profile shows plenty of paid directory inclusions, I list in the same directories.

I agree. Just copy link profile (but make sure there are no spammy links) and improve on that with some high PR links.