You are right about leet. Leet was used in my example to make it human readable, so people would understand my comment. I would use different rules for character substitution and insertion. My rules would stay the same and therefor be easy to remember from one passphrase to the next. This has been the best way I've found to create relatively secure passwords I can change every few months and which I can remember off the top of my head.
Ultimately passwords are problematic. Password vault software helps, but for those passwords I use 15 times a day this method works pretty well. From what I've seen its waaaaay more secure than what other people are using.
My point is that you can make up a few rules which you can remember, think of a *long* phrase which you can remember, and have a passphrase which is easy to recall and better than 99% of the passwords in use today. This is good enough for most password situations.
And yes... I do find that password easy to remember.
Do you have a better solution for memorable passwords?
My 30+ year career path as a software engineer:
1976 : PL/1 --> TRS-80 Basic --> RPG II --> Basic Four Basic --> COBOL --> PowerHouse 4GL --> Visual Basic --> C++ --> C# --> Java --> Objective C : Today
Many smaller steps omitted around file systems, DB, and Web markup languages. It has been a TON of fun! Now what about HTML5 next...
10 to the minus 6th power mouthwashes = 1 Microscope