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1. Synonymous to "hella good", minus the Californian-ism.

2. Really good. Fucking good, etc.

3. Goodness with goat-horns.
Example 1:

Dave: I just maxed out all my 10 credit cards and now I'm moving to Indonesia. At least I can buy an island out there with the money.

Rakeem: That's hell good bro. I'll buy my island the next reef over.

Example 2:

Rakeem bites into a BBQ chicken pizza, "Damn... that shit is hell good!"
by From the bowels of Tasmania April 12, 2009
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