Well, those guys don’t waste any time: lolgeeks! (thanks to boing boing for the link.)

Update: See also lolbrarians. Found at the highly recommended Language Log; they also comment that “…the field of lolguistics is even more sadly underdeveloped”. lol.

Update#2: Good analysis and l337-katz0rz deconstruction by David McRaney guesting at icanhascheezburger!!!1!1!!

Update#3: Took some time, but xkcd explains all.