I dropped bbonline long before their new site but much for the reasons presented in the blog. They did not have any interest in hearing my feedback about not doing any SEO for my listing in my area (they were on page 3 for 'bed and breakfast mytown') Sounds like nothing has improved, maybe even has gotten worse since it is now affecting larger touristy areas.
As far as your question JB, I do see that directories are coming to a point where they will not be much of a plus for us. I know my site has not seen a decline since I have lessoned my load on directories in the past few years.
As a side note, I have found that the other big directory has much of the same issues taking place - at least for MY area, MY listing. Their new design on city pages has drawn some major criticisum by b&b goers who are finding it harder to find a B&B in the area they are searching. This is due to all the 2ndary listings the directory is pushing... all for the love of $, they are not looking at the reason they exist - matching their customers to their (b&b) customers, both which supply them with $$$.