I think it would be a good idea if the new upcoming player information (currently being tested) would reflect the server/ocean (and perhaps the room/island) another pirate was on when viewed, however I dont think it would be that big an advantage to tell them an exact location. I think with their attempts to make pirates intereact more, it doesnt need to be so specific to encourage pirates/mateys speaking to one another.
There is actually a friend locator in the game already
its called Teleport.