Implies that your subject is in a really bad way, and is beyond any dignity or self worth. More often that not, drunk or stoned. Of having no value, much like a Cubs fan.
Craig - dude, not again, ummm she's not a SHE, she's a HE, yer hurtin! Hold the rrrrrrrr" for maximum value, as in...yerrrrrrrrrrrrrrrrrrrrrrrrrr hurrrrrrrrrrrrrrrrrrrrtin.
A reference for special emphasis on dates or times, or anything in general. Much more than just 20-aught-04 for the year 2004, you use "aught" for anything that you need special attention for. Mostly when remembering something.
1. Dude, remember that car that talked, that "aught" Knight Rider show, well, its back and horrible as evah.
2. What was that name of that hmmmmm, "aught" chick again?