Thanks everyone for the info. I'm in the process of setting up a new LinksSQL directory with vBulletin Board. No one will own the links. All submissions will come through me for validation.
What I'd like is for users to only have to register once on the site for both link submission and bulletin board access. Is this what the plug-in does? Is it stable for this much functionality? Can the user register in either location?
if you want the links to be owned by the user who submitted them then the plugin will disable the modification of links. if you don't then there isn't much point having the plugin. shame huh?