I like the idea of chat channels, and I'll tell you why...
I have always been a fan of live auctions. They're a lot of fun and can be quite lucrative. Currently they are impossible, as they generate too much spam in /auc to be practical. Generally only interested parties in a live auction want to view all that.
With chat channels, I could create a live auction channel, and enrollment in that channel could be totally elective. Players could participate in live auctions to matter where they were, or what they were doing (gives you something else to do besides chat during a long camp, for example).
Leaving global /auction intact and as-is would assist those that simply want to sell an item without the time investment of a live auction.
I suppose leaving /ooc global and making /auction zonewide could somewhat achieve the same end, as live auctions could be held in low-pop zones as not to disrupt regular /aucs and communication in general (such as the arena), but I don't see the server pop supporting that at this time unless the event was scheduled in advance, and probably hosted by a guild or guilds to ensure an appreciable quantity of participants. This would also have the obvious disadvantage of isolating markets in a low-pop environment. A high-pop environment, though, is wonderful for market isolation. I remember in '99 on live, I would often get polar bear cloaks from Karg and take them to Faydwer, where they were less common, and could sell them regularly and for more. I had a great time as a traveling entrepreneur selling regional items that way, but I don't feel that is practical here, yet.
Beyond my interest in live auctions, I believe as Finawin said that a number of guilds could benefit from a raid channel through custom chat channels, as not to derail their own guild chat, as raid channels aren't currently supported.
In summary, my vote is:
custom chat channels: please,
global /auc: leave as-is,
global /ooc: leave as-is. Global /ooc helps this server grow by aiding and abetting new players, and I support that.
We can approach the issue of global /auc and /ooc later, when the population is much higher.
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