I've observed from my own experience as well as that of companies whose link building I've observed, that hub links seem not to be working as well as they once did (or else taking a lot longer to show observable results such that you can't show correlation, let alone causation).
Hub links here means links on crusty old link pages maintained by enthusiasts, professors, some companies and the like. Design style circa 2000. What Eric Ward sometimes calls 'directories' (if they include a mention requesting link suggestions), but not what your average "PR8 links for sale" fool calls directories. I used to find them with the Hub Finder by SEOBook.com and Moz's Competitive Link Finder. E.g. link pages where the value is in the cocitation (see Google's HillTop patent) . Hope I'm being clear?
Anyways, I'd love to hear if that's just my anecdotal evidence and you guys have been more successful with these, or perhaps you're also seeing these become way less effective than they once were?