For using hyphens between adjectives and nouns... I do both. It kinda depends on what feel I'm going for (on top of being a grammar nerd, I'm also an amateur prose writer) and what it is I'm talking about. I'll usually hyphenate such phrases to speed up the read, like in an action scene, then don't hyphenate to slow things down (by forcing the reader to treat them as two words) in anything that should move slow--bullet-time and emotional reactions, for example.
Netspeak... I don't really have a problem with it, within the bounds of English grammar. Ex: I have no problem with "lol"; I actually treat it as an interjection (just like if you laughed in real life before saying something). I DO take issue with "u/ur", though, 'cause that's just lazy.
On that note, 1337-sp34k has its place, too.
