LFM, I've always understood, means Looking For More, ie, you're looking for more people doing the same thing as you. Makes more sense than looking for members...
Remember, this is based on WoW, so you need to know that game to understand most of this. Personally I wouldn't say this is very 1337, it's more n00b WoW lingo.
Have to agree. 1337 is quite quite different. Either that or there are different types of it for every game. I used to play quite a bit of Diablo II and that was completely different... as is Counter-Strike, which I still play.
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