All of the points apply equally well to IRC or any other groupchat you may want to use (satisfied paying HipChat customer here, just sayin').
-- Noise in the logs such as join/leave notifications. This makes reading old logs a pain in the ass -- Pull activity, by which I mean sending messages in campfire, but having them catch the attention of the person who isn't around. Something like @username notifications that let the user know you've mentioned them. Allow them to reply to the notification email, but have it appear in the chat window. -- Ability to clean up logs and match noise conversation as hidden by default so it's easier for people to go back and read over the logs.
1:1 chats sounds great, especially if they send notifications to the person when they aren't around.