Yep. It's reputable.
Virtual Pitchfest is a bonofide resource and as you can see in the "Pros" section that a gamut of real Hollywood Professionals are signed on. However, it comes with a hefty price of $2.50 a query letter e-mail, I believe. Since there are many e-mail addresses in the Hollywood Creative Directory or Representation Directory, I'd just cough up the fifty bucks and get the directory.
However, the store I work at does hold a class by a producer who is on Virtual Pitchfest. He says he reads those queries and has requested around 100 manuscipts and helped a few get representation. However, you still have to be amazingly-and-stupendously-and-nothing-short-of-that good because there is so much mediocre stuff around.