The good is that it has a log, quotes the last message in the reply, lets each member be part of a group and puts those people together. Additionally the really cool part is that it supports file transfer including folder transfer as well ....
Its freeware and maintains a small footprint about 5 MB of memory, peer to peer, scalable and almost never interferes with other applications.
The link for the site is below
http://www.ipmsg.org/index.html.en
If you find the post useful drop me a line would love to know.
Cheers,
Vikram.