Eyonix let slide a bit a bit of information today on the upcoming LFG tool in the forums.

An upcoming patch will introduce some nifty new features for the LFG system, which should help players out when looking to complete group quests and form parties for dungeon runs. Currently, I do use the system very often, as I've been doing pick-up-groups almost exclusively.

Even did a pick up Karazahn run the other day. ;)

I've acquired 4/5 of my heroic keys, my Karazahn key, 5/5 of my Hallowed Raiment set and have completed two heroic dungeons all with successful pick-up-groups. Sure, I've had my share of PUGs that didn't turn out well, but on a long enough time that's bound to happen.