Actually, post-Panda I recommend abandoning HP altogether - it is a sinking ship. Not because of Panda, but because of management reaction to it.
As for bookmarking - some sites are better than others, and while shetoldme (that I never recommended) probably does not have much value, sites like delicious likely still do. Though you certainly need to get a diverse backlinking profile if you want to rank for anything remotely competitive, and bookmarking is just a small part of it.
But again, spending time on building backlinks to hubs is a waste IMO, build your own site(s).