I do OK out of it. I have a main listing for my home town plus two add-on ones for nearby towns, i think about a total of £400 ish per year.
There isn't much competition in my area though, only a handful of enhanced listings at the top of the page, so it may be different in Manchester. If theres more than half a dozen they don't look "different" so you're in effect paying for a normal listing. Tough one, maybe give it a miss for your first year and take a punt in year 2 when you have a little more money coming in. You only need a few jobs to get your money back out of it.
Leafleting is proven to work. The message in the leaflet is important, but the most crucial thing is getting a big number out on a regular basis as cost-effectively as possible. Best method is delivered by you personally, worst method is in free papers, expensive and very little return.