From what I've gathered over time it's actually pronounced "Poon" ......for some reason.
Jonno
Edit: But..... http://dictionary.reference.com/browse/pwn
You've actually linked, indirectly to an "acronym" there, mate.
Personally I don't see how it is one, however if we accept that it is then surely "pwoon" would be the only reasonable pronunciation.
You do not need to see my I.D.
homophobe
As long as I've got a face
You've got a place to sit
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