As has been said already this concept isn't new, it's been around for a long long time.
But from an SEO point of view we see this all the time. (well I don't, but I hear the moaning)
As a directory we get absolutely plagued with this rubbish, SEO companies trying to swamp the market with what they see to be high prize terms. Most of these terms feed back to a minimally customised landing page, but you recognise the templates straight away.
For example take a 7 day period, we'll receive around 3-400 fake listings, left with a throw away email address, pointing to a fake address. The telephone number will point to a call centre where they will try and flog you leads etc. Some weeks it's more, other times it's less, but the problem is infuriating.
Popular ones are:
Plumbers Cardiff
Builders Cardiff
Removals Cardiff
Cleaners Cardiff etc etc. Then substitute Cardiff for any random town name.
The funny thing is these listings are all manually listed (they can't script it) and we used to delete thousands at the moderation stage.
But they do teach us great anti spam techniques, auto IP blocking etc. More recently we've started blocking whole ranges owned by proxies such as "Hide My Ass" from our sign up page, rather than the firewall. We figure if you are registering with a proxy, you have something to hide, and we don't want you 
But if a visitor from a proxy wants to click on an adsense unit then that's fine by us 
Best laugh we had recently was email abuse from a bunch of SEO spammers when they realised we had blocked their proxy IP range, demanding that we let them through?
I've spoken to a few directory owners who have seen an increase in the same kind of rubbish. Unfortunately it's still (currently) an effective technique and plenty of larger directories (not naming) let them happily go through. I suspect Google and it's terminator approach will crack it in the end, but I'm a huge thumbs down for SEO rental sites, for all the reasons above and mine.
So long waffley answer to a simple question.
Short answer is no. I've seen your SEO work first hand which is first rate, so genuinely surprised why you would want go down this route, and not carry on doing what you are doing.
If it is just a research exercise/proof of concept, then hopefully us old farts have persuaded you otherwise 