1,000 mBTC = 1 BTC = 1 XBT.
mBTC is pronounced "embit" and 1,000 mBTC is pronounced "one thousand embits". Currently, one embit is worth about one dollar.
Problem solved.
"embit" is such an ugly name. I don't want to use that. There was a proposal to use the term "Gox". Sounds great.