... we are the 'dotcom' generation ....
But seriously, I often use those dots to magnify or emphasise a
train of thought, rather than make the sentence 'sound' and appear
'staccato-like'. People DO get 'breathless' reading long sentences
with just the token punctuation marks such as the commas and
semi-colons to mark a 'lull' in the sentence. People also get
'breathless' when reading a paragraph and having to stop every few
words or so.
More than just for the writer per se, I think the "..." (Rule of
thumb: No More than 3!!) serves as a breather for the reader
itself. However, this usually makes sense only for long sentences
that's a continuous explanation of a point - rather than as a
substitute for a co-ordinating conjunction such as "and",
"morever", "but" or "therefore" to connect two seperate
sentences.
Of course, it is grammatically incorrect, for there are no (not
that I know of, at least) punctuation mark name for the "...", and
in proper written English of higher levels, such blatant and lazy
usage of dots to string a sentence together is frowned upon.
But until my forum posts are graded - I'll stick to my dotty
conjunctions. 
