I read a lot of complaints about the global Looking For Group Channel.
Update 6/27/06: This one was pretty funny.
And they were right. So some people are putting it on it's own tab. Or /ignoring the worst offenders.
I just turned it off since I don't use it anyway. I just right mouse clicked the chat tab and selected the "Join New Group" section and unchecked the Looking For Group chat:
Update: Blizzard Post on the Functionality of the Channel
We feel that it definitely provides a helpful advantage; however we are evaluating its current implementation and likely changing its function slightly in the near future.