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Freesites have higher ctr but the freesite game is becoming a losing battle and is not worth the effort for new people to get into anymore. You'll end up banging your head on your desk wondering how these link lists owners expect to make any money. Some of these link list owners don't want to make money anymore it seems and it affects your listings. They complain when they get too many of a certain niche submitted and guess who suffers? The submitter by not getting a listing.
They seem to be getting lazy and relying on recip links to pump up their traffic. I've noticed a steady increase in how much ass kissing and work it takes to get listed at link lists. The days of just submitting basic pages are going away. They want more personality, more design, more content, a lot less free content and are getting anal about how you compose your ad materials. You can't just say "visit xxxx.com for more pics of this girl" anymore. They consider it blind links and will fight to the death about it while their own sites decline in traffic. Ever try submitting a site that upsells to a free trial sponsor? Better not mention the word free in the ad materials because you won't get listed. Even though it is free to join.
They would rather sit there and bitch about it as opposed to trying to better their link lists by taking on more quality submissions. They lump people who have strong advertising into the same category as cheaters with their little usefulscript.whatever banning database. Effectively ruining the submitter's biz.
They seem to be driving good webmasters away with their analitities. If you have been submitting a long time, bent over backwards for them and have earned their trust then you're in luck. You'll make a lot of money off initial, stagnant and SE traffic from them.
If you're new to the freesite game or are wondering if you should start out in it, don't bother. Spend your time on TGP, SE and other various means of building traffic.
TGP is more anal than link lists owners in some aspect due to it being extremely hard to build a trust with them and gain partner accounts but once you're in, you're in. There is a lot more traffic available. Sure it dies down quickly once the listings rotate out but if you know what you're doing you could make enough money from it to warrant the short term traffic. If you REALLY have a brain about it you would be filtering through FPAs and SEO'ing the FPA to gain the search engines attention. You can also filter traffic to likewise programs or your own sites.. This is what I used to do when I was submitting and I would argue that I made more money from TGP than link lists this way. I only had a list of 33 TGPs and a list of 150 link lists.
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