Can be replaced with sweet, kind, smart, or anything not involving rippling muscles and a -2.0 GPA.
Also used when someone does something really stupid or so extreme it is beyond normal comment.
"Dude I just totally got laid with the Olsen twins"
"Dude I just got my MP3 player stuck in my ass."
"Sally, I really like you. Maybe we can go out sometime?"
"Your a nice guy and all... its just (insert bullshit here)."
"Well, maybe when (the bullshit) is over?"
"Sure. I'll call you then. Don't call me. Ever."
Girlfriend: What is your impression of Nancy?
Boyfriend: (Long silence as he fights off the fantasy of being a drop of sweat that glided down her neck into her cleavage) Errrr, I think she's nice.
(Real opinion: I wish you have legs and nipples like hers.)
Peter: What do you think of my new girlfriend?
John: Hmmmm... I think she's nice.
(Real opinion 1: Oh god, she's smoking hot. I know who I'll be sleeping with when you go away for your next business trip.)
(Real opinion 2: She's such a loud bitch, how could you date a hag like this?)
2. an interjection similar to saying word when you are in agreement with what someone just said or you approve of what they said
3. high on marijuana
2. Sam: I just got a new apartment downtown, man.
3. They've been sittin on the porch smokin blunts all day. They're mad nice by now.