Collegeclub.com's IM capabilities are horrible. Seriously. I have an account on there, I've actually met several cool people (in real life) after meeting on CC. However, the IM system is only good for one thing: sending a single message that says, "this is my AIM screenname, IM me with that, for the love of God."
The CC IM system is horribly lagged, doesn't work worth crap on a modem, and is just a horrible kludge, a quarter-assed attempt to get a piece of the "IM action."
I think a better idea would be to add a section to the user info pages that would let one list one's Jabber, ICQ, AIM, etc UID/screenname, possibly even parsing it and adding the appropriate linkage to let you send an IM directly. (AIM on Windows, for instance, will intercept an "InstantMessage:" URL [or something like that].) Much more elegant. Or as everyone else has said, just have an IRC channel.
CC's IM'ing sucks. End of story.
<leonphelps>Yeah, now, uh, "sig," what is that?</leonphelps>