I don't like chat rooms either, not when they're loaded with people. I prefer one-on-one IMing or a very, very small conference room, no more than 4 people. Otherwise it just gets too hard to follow. You don't know who's talking to who, if they're answering you or someone else. The page scrolls so fast I can't keep up. If you scroll back up to read, when someone adds a new reply it plunks you back down to the bottom of the text.
It can be fun if it's a close group of friends and you're all talking about the same thing, not really addressing any one person in particular but rather the group as a whole. Entering into a large chat already in progress? FUHGEDABOUDIT