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I also got spam from Careerbuilder. But I got spam from all the job boards. I found them most useful if I just used them to search for jobs on a regular basis. Sometimes I even saw postings from the hiring company itself, without an intermediary.

In fact, I found both my current and previous (temp) jobs on Careerbuilder (unfortunately, both were through recruiters). So for me it was a gold mine. Well, maybe a tin mine.

I currently have my profile on CB but it's not visible. When it was visible, last year, I got about 2-3 messages per day. Is this comparable to what you were seeing? Most of them seemed legitimate. I guess I just didn't pay any attention to anything which looked off, I didn't notice anything like MLM schemes. Not that I don't believe you - it doesn't surprise me. What does surprise me is pointing out CB in particular. I would imagine this kind of spam would be difficult to filter out for any job board, Dice or Monster etc.

The legitimate ads I got from CB were most often not suitable; wrong skill list. I assumed they were spamming based on keyword. ("Send this ad to everyone having keyword 'Java'"). Still, like I said, I did get good job ads. I used CB almost entirely, never bothered with updating my profile on Monster or Dice since I figured there'd be a huge amount of overlap. I did use some other services: jobcircle and jobster.

I got a nibble from a jobcircle ad for a contract position, but later I saw the same ad on lots of other job boards.