After some quick research on APEWS (ie. a simple Google search on their name), it appears that APEWS was born out of the ashes of SPEWS, which was already under heavy criticism. Already on the first page of results from Google, I found this:
http://spamtrackers.eu/wiki/index.php/APEWSAlso, on the second page of results, I came across this:
http://www.uceprotect.net/en/apews.htmlMeaning, even UCEPROTECT/SORBS think APEWS hits too many innocent targets, and that's saying a lot (especially to those who've had to deal with UCEPROTECT/SORBS blockings before).
Given that the APEWS official website's copyright years (at the bottom) says "2006-2010", combined with the fact that the website looks like it was designed in 1999-or-so, and with the news page having the latest post from six months ago (December 2011), it looks more like a blacklist run by some anonymous hobbyists, rather than someone who does this professionally. I would trust these guys as much as a huge mega-corporation would trust a one-man company aiming to host business-critical servers...