If you want to be l33t, it could be "t3h sux", "t3h suxx0rz", or "t3h suck" (you must use the 3 instead of E to be l33t)
I have no idea how it became so popular to misspell words. Probably has come out of the same thinking that has brought us the "leet" ("1337", "l33t", etc.)
"l33t" = elite (obviously if you have such m4d sk1llz you are elite, right?)
Sux0rz = Suck
Pr0n = Porn
W4R3Z = Software (the pirated kind)
pwn = own (as in "I just owned your ass!") and derivatives such as pwnt, pwn3d, pwnz0rz and LOLOMFGPWNT!!!
Playing my fair share of first person shooters I can personally attest to the validity of John Gabriel's Greater Internet Fuckwad Theory
The average punk-assed teenager playing only games being said "Fuckwad" would get his ass kicked in the real world if they exhibited such rudeness as you find them doing on-line.
I digress I guess. I just find it interesting that the language of choice by the annoying punks of our day is so fun to use.
OMG STFU N3WBZ! LOLZ!