Creating a Link Directory using WordPress?

I would like to create a dmoz like website, using WP.

Any suggestions on plugins or site’s architecture would be welcomed.

A great starting point would be Mike’s answer to the question about cloning CrunchBase. You’ll want to do something similar with custom post types for entries in your directory.

If you want to allow visitors to submit sites, you could perhaps use the TDO Mini Forms plugin to allow visitors to create a new listing, and adjust the settings so that any new listings created through that form get held for administrator approval before being published.