Bidding directories are just a spin off on normal paid directories, typically they earn a little more than the one off fee directories, hence their popularity before Google nuked directories, making most useless.
Free directories offer no real link value to be honest, apart from a select few which are very difficult to get listed at, I would advise you don't bother submitting to thousands of free directories, only top quality ones. Most paid/bidding directories have usually been dropped by Google, except a few quality ones such as business.com and Yahoo's directory.
Summary: Only submit to the best free directories, although their is also controversy over their value as well, but I don't want to write pages about it, and ignore paid directories unless you have a lot of money spare, then Yahoo dir and so on.