#lesswrong on Freenode, which used to be the official unofficial LessWrong channel, has been re-designated as a private hangout reserved for, roughly, ggreer/AngryParsley, efm, realitygrill, rsaarelm, ksotala, gwern, Grognor, chelz, cwillu, Boxo, nshepperd, ivan, mstevens, and jandrog. You're still welcome to speak there, but only if whatever you're saying is interesting/important to one of them and the op.
For less constrained conversation, go to #lesswrong-alt (unregistered; recommended by #lesswrong's op), also on Freenode.
EDIT: #lesswrong's rules have been changed to "behave like decent human beings, give ops liberally to channel regulars, don't ban without warning or if most people disagree". This PSA is hereby retracted.
How, exactly, is this discussion a "waste of time"? If it is worth having an IRC channel, it is worth taking the time to ensure that it functions smoothly.