Pendo,
Like others said, first, make sure your free sites are getting accepted. Easiest way to find that out is checking your referral log.
When I first started building free sites, I spent about 3-4 hours submitting to about 200 LLs, and I remember wondering if I can somehow shorten the huge list. Being a newbie, all the LLs looked pretty much the same to me, so it wasn't easy figuring out who not to submit to.
After tracking traffic for a month, I figured about 15 LLs were sending me 75% of the traffic, and the top 15 list changed depending on the free site niche.
For example, LOR sends above average traffic for "hairy" because for one thing, there are fewer free sites on their hairy page.
Tons of hits doesn't mean alot of sales though, so if you are targetting SE traffic, then I'd create a list running keywords on google.
e.g. if you create a submit list using google result from "amateur sex", you'd have 1. LOR 2. smutgremlins 3. penisbot 4. debauchery (they have a huge backlog i believe) 5. hoes, etc. Again, depending on the number of links on the "amateur" pages on those LLs, your mileage will vary.
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