I play in windowed mode. This allows me to check http://www.demigodthegame.com/opengames.asp while in queue. So I can see exactly how many people are in queue and for which sides and what games are being made. You can actually observe it making Pantheon games with 3 vs 1 + ai when the Pantheon Queues are not balanced. You can also observe that the minute there are 4 people in the skirmish queue it starts a game.
To avoid getting into a 3 vs 1 + 2 ai situation I sometimes wait for another player to join my side in pantheon before joining the queue if there is a large number of players waiting on the other side.
@Melric
I check player rankings after every game I play and have observed the following behavior.
Pantheon games are more prone to lopsided games because the queue is split into light and dark. If you have 2 bad players playing light and 2 good players playing dark the match making system will eventually pair them up. Had it waited for 4 people in queue on both sides it might have been able to make better matches.
In Skirmish games are slightly more balanced because it can pair the for players so that the strongest and weakest players are in one team and the two average players are in the other. In a 6 player game things are more balanced because it can chose the 1st, 4th and 6th player versus the 2nd, 3rd and 5th or 1st 3rd and 6th versus 2nd, 4th and 5rh depending on rankings.
It is clear from how it makes teams in Skirmish that player rankings do matter but the match making system favors starting games asap so much that rankings have little weight in Pantheon. Given enough people it can make better balanced teams but it is not getting that chance. This is why I am suggesting that the match making system be allowed to wait a little longer.