My obsessive reloading of the WoW site has yielded:
http://www.worldofwarcraft.com/burningcrus...ngforgroup.html

Basically allows someone to post a specific LFG request (and has an LFM tab for group leaders to be able to invite people). Searches can be by Dungeon, Raid, Zone, Quest, or Battleground. Unfortunately, only limited detail is provided. Blizzard needs to give me a beta key so I can write a better review of this upcoming feature.

Honestly I don't see this working much better than the LFG channel. People will still fill it up with spam, or just ignore it because they don't want to look at the spam.

The difference is that hundreds of people can enter their preferences without spamming hundreds of chat messages to hundreds of people. Therefore, less people will ignore it, and in fact you don't "turn it off" like you do the LFG channel.

If the system can surpass critical mass, which hopefully it can due to alllll the 60's looking for instance groups in the Outlands, it should be very cool to see in action.

For what it's worth, my guildmates who have been playing in the alpha and now beta say that the LFG feature works really well. One day, I'll get my beta key...