Most of the webmaster, when goes for submitting their websites to directories, first think they look on directories is their pagerank. They think that higher the pagerank, higher the value their links will get. Its a big misunderstanding because the value of link from seo perspective depends on the pagerank of the webpage where you are submitting your site and not on pagerank of the home page of directory.

I strongly recommend submitting site to new sites which are basically of pagerank 0 due to following reasons.

1. Because the directory is new, there will not be much links so your link will get a position quite high in the required category.

2. Because the directory is new, owner of the directory spend more and more time on its promotion. So the search engine spider will visit the directory frequently and so as your site.

3.  Because the directory is new, owner will keep the submission free in most of the cases.

4. Because the directory is new, owners do the approval of the submission very fast.

5. 99% of directory owner create these directories to earn some money. so initially  they keep the submission free.  but once they get some pagerank and good list of sites, they make the submission paid.

6. Even if they keep the submission free, when you submit a site in a particular category, most probably there will tens or some time even hundreds of sites  already be there on that category and high chance is that your site will get a link in 10th , 11th page or may be more than that which will have Pageran 0 and they will rarely be spidered by search engine.

7.High pagerank directory owner many times keep the submission free to get more and more exposure. but they generally avoid approving these sites and approve only those sites which are paying some money for featured or premium link.

8. High pagerank directory owner generally spend very less time in promotion.