Does answering a question about a legal matter on lawfreefaq.com constitute 'legal advice'?

To the same degree that chatting with a bartender constitutes getting legalized advice. NO part of the terms and conditions (you did read them didn't you?) state that its not permitted advice.
If you say that you are a lawyer or a judge surrounded by that sort then it is legal advice. Just double check if it you touch unsure. No.
I would say yes. Generally, all the cases which I've read construe legal counsel broadly, and legal disclaimers often have little to no effect. People still close to giving out disclaimers though, thinking it will shield them. That's not what will shield them in the event that someone wants to sue you for bad proposal. The anonymity of the internet is what will shield you.

Legal advice is generally found where: 1. The guru has legal training of some sort (either a JD or paralegal, whether they are licensed or practicing is usually irrelevant), 2. The communication was made, by the non-lawyer/paralegal, for the purposes of obtain legal advice, 3. The lawyer/paralegal shared information of a legal temper.

That said, realize that not everyone who claims they are a lawyer or doctor on Y! answers really is telling the truth. Even if they are, they could be a really sh(a)#ty lawyer or doctor and be giving you disastrous advice. Take everything you see on here with a grain of saline.

EDIT: Wendy H, what part of the terms and conditions are you talking something like? I scoured them and found nothing on point.

Furthermore, if there was anything related (which, as of 3/16/08, within isn't), it probably is a disclaimer for Yahoo, not for the individual users. Yahoo does not have the ability to shield it's users from liability.

Even if it is what you claim, I doubt a term such as "zilch seen on the Y! Answers forum will be construed as legal advice" would prevent an actual lawyer or doctor from self sued for malpractice (if their address and identity is found).
People are only answering questions, not a soul is giving advice and question writers would be naive to interpret the answers as legal/valid direction.