1337 h4x0r Translates to Leet Haxor (hacker with a kick)
In the language 1337 4 replaces A and 0 commonly replaces o.
Tsutomu Strikes Again!
Ninja: Ha.. it is you who is the newb! forgot about the Language Filter didnt you Newblet!?
Pirate: Phuck J00
Ninja: :0 you h4x0r
Pirate: 1337 h4x0r j00 M34N!
Ninja: ... i hate you ...
2. Usually people who type in "1337 speak" are illiterate. My bad...il"1337"erate. =/
Person who doesn't have transparent skin: I'm sure all the kids at school think that too.
A rare exception is this: in Halo for PC there was no way to enforce cheating, and in large clan war websites (like the old www.klanwars.com) many clans used hacks to stay on top. Thus, in very high ranking clan games, every player would be using hacks (ie:aimbots and wallhacks). Thus, the best H4x0rs could be considered 1337 compared to other hackers... a 1337 H4x0r.
The legendary player Phillygraf is an example of a 1337 H4x0r.