This post is quite old as I write this, but it begs for an answer.

Yes, they do work. Depending on your product, pitch, and price; and where you advertise. The kind of submitter you can pick up here and there for free on the web are not worth your time and effort so ignore those. The majority of them are 5 years old (or more) and haven't been updated since then and cannot be updated manually. Now there are various blasters that you will find, usually an online tool that typically has a current database and is updated regularly with new areas to advertise in, as well as the removal of old or obsolete websites. Although they may have a limited time free trial; either a subscription fee (monthliy, yearly) is required; or you purchase the use outright. Try before you buy, and thoroughly research your prospective program - avoiding the testimonials that pepper the web that are either placed there by the admin or affiliates for the program - look for referral by someone who is fairly well known who actually uses the program. When you do use the service, making sure your ad is well written is important because people do see the ads, and will click on them, so always use an adtracker.