I dont like them, you get a bunch of not so good links. I guess its good for diversifying your link profile.
Im sure press releases are good if you actually pay good money for it but you wont get anything good from a $100 press release.
Viralnova get all its traffic from social media. So if you are planning a site like that follow these 2 steps:
1) Create clickbaiting content. Viral stories.
2) Post them on facebook and twitter and encourage people to share.
Ok sir thanks a lot. I find it hard to market in FB and Twitter I have no lots of followers and likes.