Tkae a look at the piecutre to the rghit and try to see if you can uesdnatnrd waht it syas. In fcat, trehe is a vrey good chncae taht you've arladey raed tihs bfeore beascue it's one of thsoe eamil frwodars knwon to inuntdae ibnoxes ernheyrewe and awe teihr rcienietps.
Now, I don't know what your reaction has been, but I've always found it annoying because it seems so obviously contrived to fool lazy, unsuspecting readers who are only too happy to learn that spelling things correctly doesn't really matter. Here's looking at you, Stephen Fry! Just kidding :)
When I try to break it down for someone, I'm constantly told that I "think too much," and to just relax. If I weren't the nice guy that I am, I'd reply with something like: "no, you just don't think enough," but I doubt that kind of strategy will get me laid, so I just hold back, down my drink and hope she'll become hotter as a result :)
Fortunately, for me at least, it seems I'm not the only one who gets worked up about this because someone has made an awesome video about it:
Go on, forward this to all your friends. What are you waiting for?!? :)