We built a business directory using Drupal 6 with Solr 3.4 integration. See http://www.webnetwork.com.au
I personally am against building a "business directory" module as I see it would be limiting. Business directory websites can vary so greatly in features so it would be much better to use configurations of different Drupal modules to create a specific set of features rather than a business directory module per se.
In our directory, some of the core modules we used:
Apache Solr
Solr Location
content profile integration extending user profiles
custom content types with various CCK datatype formats for custom fields
Invitations
page title
auto alias
roles and permissions
views
blocks
taxonomies
The Solution
The directory search offers both keyword / keyphrase search integrated with faceted drill-down, and the facets are controlled through taxonomies. Some facets use a locked-down single taxonomy selection, and others offer the user multi-value free autocomplete tags enabling users to enter their own taxonomies at registration.
Controlling the bias settings on the Solr search node with faceted control of search have made search results very reliable in the site. The keyword / phrase "did you mean" suggestions add even more dimension to the users search experience.
The use of Page Title and setting automatic alias patterns has enabled good indexing of directory content in search engines also.
Issues
We did find that the Apache Solr 3.4 location module (used to capture gelocation data of businesses and hook dynamically into Google Maps) initially needed some customisations to get working with search.
One draw back we found was that the data fields in Solr Location module (suburb, postcode / zip or state) are not facetable meaning users cannot drill down by these fields.
See the directory here: WebNetwork.com.au

Comments
There is always the
There is always the possibility of releasing your business directory as a Drupal distribution. I'm not sure how well Apache Solr plays with distributions but I'd imagine a distribution may allow more flexibility that a module alone in terms of the whole 'business directory' package.
Releasing as a distribution....
That is something we have considered, and to also rebuild in D7 and do the same. We are still adding features so once it is richer we will approach that aspect.
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Mark Parsons
Digital Catalyst Group Pty Ltd
Sydney, Australia
i want to build some educational info directory
i want to build some educational info directory. please help me how and which module i will have to chose.
I am very new to this..please guide me step by step..
Thanks
Education information in personal profiles
Hello
I am building a new business called Tutor Network Australia (TNA), based on a framework provided by Drupal, CiviCRM and MySQL. see http://australiantutornetwork.wordpress.com
I am using CiviCRM to store profile information about potential students (customers) and tutors. So far we have designed the contacts database using the existing Data Structure that comes with CiviCRM. Any extensions we are building involve extra information to store the education experience of the tutor, or the education courses being undertaken by the student.
I would happy to talk with you about the data structure being used for TNA, if we are able to gain mutual benefits from such co-operation.
John Young
0407 940 943
John Young
Yindi Systems
web: www.yindi.net
twitter: @yindisystems
Response to John re: TNA
Hi John
I would be happy to talk. I will try and call you shortly.
Regards
Mark Parsons
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Mark Parsons
Digital Catalyst Group Pty Ltd
Sydney, Australia
Education information in personal profiles
Hello
I am building a new business called Tutor Network Australia (TNA), based on a framework provided by Drupal, CiviCRM and MySQL. see http://australiantutornetwork.wordpress.com
I am using CiviCRM to store profile information about potential students (customers) and tutors. So far we have designed the contacts database using the existing Data Structure that comes with CiviCRM. Any extensions we are building involve extra information to store the education experience of the tutor, or the education courses being undertaken by the student.
I would happy to talk with you about the data structure being used for TNA, if we are able to gain mutual benefits from such co-operation.
John Young
0407 940 943
John Young
Yindi Systems
web: www.yindi.net
twitter: @yindisystems
You have 2 types of users
1 type: Drupal beginners non-tech webmasters who want everything packaged, working out of the box, 50%+ most common features, in some rare cases only small extra features. Their holy grail is prepackaged and already mature installation profiles
2 type: seasoned webmasters/project managers, who are willing to spend money, time, hr to build the most awesome or custom tailored biz directories
You are absolutely right only about 2 type
drupal+me: jeweler portfolio