I saw this post and figured I'd put in my 2 cents.
Safelists work, but don't let them all full you.
Here is the truth.
#1: Safelist X has a lot of members so I'll get tons of clicks and leads and sales!
Truth: Just because a safelist has a lot of members doesn't mean you'll get better results then the one with half the members. Why? Because not all members are active, and 99% of your safelists out there don't remove inactive members. So the truth is if a safelist has say 5k members maybe only 3.5k are actively using it while the others stopped using the service all together. Also your ad has to do a lot with it, and if your not using a lead capture page you'll see even less results.
#2: I saw a safelist ranking site. The ones at the top must be the best.
Truth: Safelist Ranking sites are good, but even they don't tell the full truth. Don't get me wrong Affiliate Funnel and Traffic Hoopla are the 2 best in the business (so I think). However this site here
http://leadpaging.com/ars/rankit1.shtml has rankings all over the place. It's not a bad site, but sites that are ranked high say in the 20's 30's range shouldn't even really be there. Some should but not all of them.
Bottom LineUse Affiliate Funnel and Traffic Hoopla to build your core list of places to use. Then from that list do your own testing and cut that list down to the ones that work the best for YOU. If you want even better results buy the solo ads from safelists as they get more clicks and are affordable.