I only say lol when I really DO laugh out loud.
I use l33t speak, when around friends who enjoy l33t like I do. Or 1337 if you will. ♥
I love internet language, unless it's someone who really can't talk without using "u" "i c" etc., THAT does piss me off. If it's not joking around and they think this is ENGLISH. No. Just... No.
I do love it ^_^ And I have gotten a lot of free games. In fact, I got the Kinect before it was even out and two games for it. Pretty sweet. ^_^ Feel free to e-mail me if you have any other questions! firstname.lastname@example.org ^_^
Also, I once said lol out loud while talking to my mom. Luckily for me, she didn't punch me. :P