I'm with the oldies here, as well I should be, in expressing my displeasure at where proper communication is going. I don't text, but I find nothing wrong with "text talk" among friends. However, in a business situation of any kind, or correspondence with a stranger, it is never appropriate or acceptable.
I throw in an occasional LOL here on PT, or in an email with friends or relatives, but that's about the extent of it. We live in a fast-paced world now, but that is no excuse for anyone to be so lazy, that they can't take the time to spell out in "real words", what they want to say.