Would be great to have this fixed.
It's definitely not classic the way it functions now, I remember using it in kunark/velious era.
Source to back up my anecdote:
http://www.tski.co.jp/baldio/patch/20000817b.html
"Players can now indicate that they are "looking for a group" by typing /LFG. This command will flag your character in both zone-specific /who lists, and the server-wide "/who all" list with "LFG". The LFG flag will remain active until you either enter a group or log out. Players can search for other players who are LFG by using filters in the /who command. For instance, to find rangers between level 40 and 50 who are looking for a group across the server, type "/who all ranger 40 50 lfg"."