"Cockbusted" is a very versitile verb that can be used under any circumstances. It can be a substitue for "ownzed", "beaten", "ass-raped", almost anything you can think of.
It can also be used as a noun, such as; "I just got beaten by that cockbuster."
The word can also be modified to fit as certain situation, i.e. "There is alot of Cockbustage going on in Soul Caliber II today!"
It should be noted that the term "Cockbusted" was created on May 31st, 2003 by Jordan Speed.
"Damn, I was just cockbusted."
"You stupid cockbuster."