Combinations of curse words are typically used for insults when angrier than usual. This one, for unknown reasons, sounds better than most others and continues to be used by many in random explosions of anger.
to be beyond just wasted. To not only be so drunk you pissed on somone but you more then likley pissed in your own shoe then put it on just to go outside and pass out.
holy shit bill was so fucking shitfaced hammered drunk lastnight he woke up open the drawer to his desk pissed in it and then tried to flush it.