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Definition 1) Used when something is so awful that it's actually good.

Definition 2) When you think something's good but your friend disagrees or vice versa.

Favoured by the ComRads.
1) Bob: "Look at that painting!"
Joe: "Yeah, that's good crud!"

2) Gavin: "Wow, I love life."
Becky: "Really? I hate it!"
Gavin: "Well, let's just agree it's good crud."
by Iron Anne Cash November 14, 2006
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