I review newly submitted sites very often - as I wrote in last post almost daily. First step is looking for their pagerank. I list sites with every pagerang or without it but when I am reviewing sites for the first time site without pagerank (no with page rank 0 but with no page rank at all) is not reviewed and is put to waiting queue. It is because 90% of this blogs are blogs that are just started and after some experience most of them are live only few days or weeks and after that their autor stop posting. And I don't want directory full of sites with one or two very old posts that contain only some hello messages. I understand that small part of blogs vere never listed in any directory or exchanged links and this is their first submission somewhere and they have living content for months or years but it is really very small amount of submissions without pagerank. It is penalizing them a bit but it's really something like 1-2 blogs a month so it is better to leave them in queue and list them later.
After this first selection I take a look at the rest sites noticed by search engine. Now I take a look at age of the blog and sites that are +- one month old are put in the queue. If those blogs are updated, they will be listed later. Longer living blogs are then reviewed a bit more detailed. I take a look if the blog si looking like "spamblog" automatically updated filled only with some good only for adsense posts or only with make money online posts (blogs about online money making are listed, this is only about thos blogs without personality) and referral links it's also put in the queue. After that I take a look if there is reciprocal link on submitted blog (some people put as reciprocal info some other site or even google or my homepage - it's not working for me :)) and on some normal page. If there is no reciprocal link or no surfer can never see my link because page with my recip was created only for it I delete this site - ok is if page for reciprocal link is some post or created directory page linked from main page. And last thing I don't like are some popup windows, exploits and other dirty stuff. Those sites are also deleted. Rest of the sites are accepted (that means almost all normal submissions) only sometime I move them to other category that fits them better.
Second and last review is after few months when I take a look at all sites put in the queue. Now page rank is not interesting for me and I almost always take a look at two most important things. First is reciprocal link and second is if blog is living. Blogs that are live (almost all spamblogs are not updated for long time, their spammy owner build 100 new and forget about older) and with linkback are almost always listed. Of course if there is no dirty stuff like popups on them.