Leet, Piglatin, and in 40k Forums, Ork Speak, all wind up in the same place (for me) as for folk who won't capitalize or use the occasional page break.
Unreadable on a computer screen.
I don't think I could actually figure out which of those would be harder to read.
Hopefully now that Lolcat has posted to us in a non-leet, that could continue. If not, que sera sera. Different strokes for different folks. Heck, maybe there is a rabid minority of wyrders that prefer it.