Is partnership with SEO company profitable or not?

How to analyse a potential partnerships with SEO company?
Is it profitable or not?

I have received a partnership offer from one SEO company about:

• I will provide small link in the bottom of my pages to the list links to SEO company partners with limitation 25 links to partners from any page.
• I will not control the list of links but SEO company looks good and serious.

Company will provide the full SEO service for the period of a contract (one year). Like:
• 200 Directory submissions
• 20 Themed links
• 50 Social Bookmarks
• 200 Search Engine Submissions
• 50 Blog & Article Submissions
• Onsite guidelines

Partnership shoud be
And questions which I renerated immediately were:
• Is it profitable?
• Can it damage SEO of my site?
• Does anybody use this type of service and with which result?

And what I have collected like important questions and comments about this partneship:

• There is nothing worse then not control raw links on your site.
• And exactly what do they think it will do to your rankings?
• Which keywords are they targeting?
• How much search traffic monthly do the engines get for those keywords?
• How competitive are the keywords? Have you seen other sites with this SEO's links?

And I hope the list of questions can help anybody to save their time and money and avoid unresponsible outsource SEO company contracts.

Well... I decided just skip this offer.