I'd actually prefer more flexibility over the balance.  the restrictions add frustration and stress, and in the end make the experience as a whole less fun.  fun is what I'm trying to achieve, and while balanced matches are a lot of fun, I don't go into this game expecting a perfectly balanced match every single game.  and hell, I've had a match where the crew and I sang Still Alive as we got stomped.  it was hilarious and awesome, would repeat.  it's not the balance that makes the game fun, it's the people that I crew with.  I want to be able to crew with the people that I have fun with whenever I want, and easily.
I would still rather see match list go in alongside matchmaking - use the matchmaker to fill in the crevices and balance where it can, and to bring the people that don't want to hunt for a match an easy way into a match, but let those of us that want to search through for something more specific do so.  no, it won't be balanced, but it's not balanced now, either.  I am willing to concede the match list completely with good reason (balance would be a good enough reason, but again, it's not balanced now, so I don't see any reason for the match list to not exist right now), but I absolutely do not want to lose the ability to quickly and easily hop into a friend's match, especially not for the sake of balance.  the current system is still much too restrictive.
Mezhu, swapping slots through spectate was a feature the player base that tested the game fought for, since they removed the swap slot function otherwise and still want to restrict.  when I first tested, they didn't allow people to move from spectate at all - but a lot of people move to spectate for a match while they're eating or answering a phone call, or they'll start in spectate and want to jump in once a slot opens up with their friends.  additionally, sometimes people try to join their group of friends and wind up on the wrong team.