Buddy list?

[SmokeEater]

Does the buddy list actaully do something?

[Fox Bluetail Axon]

I wondered the same for a while. I actually just today noticed the "Open Buddy List" option in the "Quick Links" section of the top menu.

It launches a new window that allows you to see which of your friends are online at a quick glance and send a PM to them. It will auto refresh every so often, but gives you the option to refresh at the bottom also.

Hope this helps. Let me know if you find out anything else.