OOC - Out of character, what hardcore dwarf warriors say before letting everyone know they have to take a piss and grab some more bawls and Doritos.
o rly - rly!
owned - The father of the word “pwned,” which likely came about as a result of the proximity of the letters 'p' and 'o' on keyboards.
pixel - Picture element, your Atari games contain several of these.
pixel art - A hobby for artistically inclined nerds. A replacement for macaroni and glue.
polygon - Multiple gons.
polygon vomit (see image below)
preview code - A pre-release version of a game given to editors to preview. It’ll totally get better before it goes to retail.
PS3 - A Blu-ray player with a weird-looking remote control.
replay value - Obsolete thanks to DLC.
review code - Totally, waaaaaaaaay different from the preview code, and this time we can give it a score.
rocket jump - Using an RPG as a pogo stick.
ROFLcopter (see image, right)
roster update - A technique which allows developers to program all of next year's sports games simply by editing spreadsheets.
RTFA - Read the fu**ing article. Popularized by Digg, RTFA is used when it is a clear that a commenter is making statements based only on the headline of a story.
RTFM - Read the fu**ing maual.