Sucky as hell and possibly ass-likehuman who totally sucks. Very different from the common dweeb, as Dweeeeeeb has a lot more e's and therefore is prounounced with an elongated "eeh" sound, like this:
Eeeeee...
Also, the Dweeeeeeb, in contrast from dweeb often describes someone who also is very nerdy and/or geeky.
DWEEEEEEB to PERSON: Were you actually doing somethingfun? *gasps* That's bad for your grades! Go study!
PERSON: Bitch.
When some thing is good, such as high quality marijuana.
If you ever hear someone use this word, you probably are near an idiot in O'Fallon, IL and you should whack them in the face with a frozen 2'by4".