This word is actually the name of a boys car. The "Hilman Imp" is an English car and yes it is the biggest peice '0' shit you'll ever see. Someone should come an shit on it, and its driver!
Dude, i saw the Imp last night, it looked so crap i got a massive hugeerection
stands for many words:
important, impossible, impressive, improbable, impartial, impatient, impolite...etc.
Basically you say "that's imp" when someone tells you something and you don't know how to respond. This lets the other person decide what he wants it to mean.
Most often is used to mean impressive.
"I climbed Mt. Everest today"
"that's imp"
(did he/she mean important? impossible? impressive? improbable?)