Studying German at the university I can soothe you about one aspect. The English language is not the only one that is being "bastardized" by the net - speak etc. Actually you are still off quite good. If you'd see the amount of people here speaking a mix of net - speak, English, German without realizing it is sickening, not even to mention all the other influences upon the language.
Anyways back to the main point. I think net speak etc. is okay to a certain degree. Languages have always known to be evolving and will continue to do so, however due to the internet and other social-lingual influences it has speed up considerably.
To a certain degree that is okay, however I think that there is a limit for everything. If someone is happy in everyday life he should not be standing on the street and say "lol" "roflcopter" "lmao" etc. Also making posts entirely made up out of net speak etc is not only lame but is even harder to comprehend / doesn't simplify things as it is meant to.
I could go on with my ramblings as how the advertisement industry makes use of such things, how we are responsible for changing the language, how it already changed over the centuries etc, but in the end that is most likely the boring rambling of someone studying linguistics so I'll shut up about it.