Okay, I'm not grammarian. I don't have perfect punctuation. I look up usage all the time. I also recognize that informal writing has a more relaxed outlook on grammar and punctuation than formal writing. One of the things I like best about the English language is its adaptability. All this being said, I have gotten an alarming amout of emails lately that either misuse or abuse the ellipsis (. . .).
I got an email recently that had not one single period in it. It was all exclamation points and ellipses. I'm not a big fan of the exclamation point as it seems somewhat, well, loud. However, the real objection I have is that an ellipsis should not be used to replace periods. I defer to my hero, Grammar Girl to explain proper usage of the three (three only - not four or five or 10) dots that make the ellipsis.
This over-dotting is my other complaint about the use of the ellipsis. I've noticed that people seem to use the dots at their discretion. I don't know if this is to indicate a longer pause? But there are other forms of punctuation that can do that without abusing the poor ellipsis. Perhaps the abundance of dots is for emphasis? I don't know. The other possibility is that they don't know that there are rules governing the use of this delightful little device. This is the most likely answer.
I must not blame the user for the lack of knowledge. I know I got an above average education. I realize that many people have not had this advantage. What I don't understand is why no one cares to find out the things they don't know.
I look up usage and words all the time because I don't know half of what I should. I know I'm not alone, but sometimes....... after I gotten another email.............. that makes me want to get out my red pencil.......... I feel like I am.........And it makes me want to scream!!!

Shoot!
Damn. Double whammy. Extra periods AND exclamation points.
:)