I have never tried this out, but can say that I'm ranked prestige 20 and I am the leader of my parties most of the time.  We either get lobbies full of noobs/non-party team or we get matched to full parties with of course higher rankings.  I really think it is just hit or miss between lobbies. 

When I used my second account and started from scratch, it sure seemed like I was being put into lobbies full of low rank (less than level 80-0 Prestige.  However, when I went back to my main account I saw myself pulling the same lobbies often, so I have my doubts there is any "experience" ranking to the matchmaking.  They have enough trouble filling lobbies with players without trying to rank them at the same time.

One thing I have noticed that makes a HUGE difference when picking your party host is their proximity to the rest of the party.  When we are all fairly close geographically, any of us with decent internet can be leader and we will all rock solid connections 90% of the time.  If we run a full party, chances are very good one of us will be host.  As long as the opposition isn't dipping into yellow bar country, the lag/lag comp isn't bad and we can do very well. 

Now when we play with our friends from a couple of time zones away, it is a whole different story.  That friend can be a 4 bar host, but our good internet will leave at us a solid 3; good enough that we don't get any lag comp advantage, bad enough that we are way behind the guys closer to the host.  It is bad enough to keep you from accepting game invites because you know that you will have go mega try-hard just to break even.

I never figured out the mystery of matchmaking either. I'm 19 prestige and will get into lobbies of noobs and skilled players. I sometimes am party leader and sometimes other people are. Haven't notice any type of trend. It all looks random to me besides the whole time period thing. That's the biggest factor. Depending on what time of the day you play, you can find either more skilled players or more non skilled players.